Reliance Infra, the infrastructure arm of Reliance Communications is likely to raise funds from the market in 2009, Anil Ambani, chairman of the company said in Mumbai on Tuesday.

Responding to queries on possible IPO of Reliance Infra, he said it would depend on state of markets. But he also observed that," we will be open-minded for capital raising for Reliance Infra in 2009."

He, however, did not indicate the quantum of funds the company would raise nor did he mention whether it would be only equity or a combination of debt and equity.

The company had planned to make an IPO early this year but did not go ahead due to weak sentiment in the stock markets.

He said the company has been swamped by a number of new entrants in the telecom sector wanting to make use of RComm's infrastrcuture like telecom towers.

It will increase the valuation of the company and company will announce the infra sharing plans soon, he said.