Reliance Communications Ltd., India’s second-largest wireless carrier, will soon seek regulatory approval for an initial share sale of a 10 percent stake in its Reliance Infratel Ltd. unit, Chairman Anil Ambani said, without providing a timeline. The Reliance Infratel telecommunications infrastructure unit, which sold a 5 percent stake to seven global investors for about $290 million in 2007, had revenue of more than 50 billion rupees ($1 billion) and a profit of 17 billion rupees in the year ended March 31, Ambani told shareholders in Mumbai today. Billionaire Ambani is tapping a revival in investors’ appetite for new stocks after Indian companies led by NHPC Ltd. raised $1.88 billion in August, or almost 27-fold the total amount in the first half of the year. […]