Reliance Infocomm is planning to raise Rs 5,000 crore (Rs 50 billion) from the market, but no public issue is in the offing, say company sources.

The funds, needed to put in place the second and the third phases of the firm's telecom project, could be raised through a debt-and-equity formula, the sources said.

Already, talks on the possibility of handing over a slice of the company's equity to a major global telecom firm are on.

"But, a final decision on the instrument for fund raising should be ready in 4-5 days," the sources, requesting anonymity, said.

"There is no plan for public issue now. Our financial experts are deliberating on the financial pattern," officials said.

A decision has to be made soon if Reliance wants to keep up with its planned schedule, according to which, the second phase of its telecom venture should roll by June.

Of the total telecom project cost of Rs 25,000 crore, the company raised Rs 15,000 crore (Rs 150 billion) through debt and equity.

The second phase envisages an 'enterprise netway' to provide 10mbps ethernet links to 500,000 enterprises for broadband and inter-active communications facilities.

Taking care of the high-speed communication needs of individual subscribers would form the third phase of the Reliance's telecom venture.

Reliance's limited mobility service has suffered a setback in failing to rustle up, as originally planned, 2.5 million subscribers in the first two months of its soft launch in December. So far, it has a client base of 900,000. Its limited service's commercial launch is slated for May 1.

Discouraged by the lukewarm response to its limited mobility service, Reliance Infocomm is pushing back to August the date of launch of its landline services.

Reliance top guns are mulling a re-orientation of its marketing strategies and are expected to rework the Dhirubhai Ambani Entrepreneur offer to streamline its distribution channels.