With the board of Reliance Communications Ltd, the second-largest wireless carrier in India, approving the sale of up to 26 percent stake at a premium to its existing market price to strategic or private equity investors, the shares of the company rose by almost 6.2 percent in Mumbai.

Confirming that Reliance Communications, controlled by Indian billionaire Anil Ambani, is selling a stake, company spokesman Anuj Bakshi said: "We've put our matrimonial online and we're taking offers."

The board's approval to the sale of the almost Rs. 90.5-billion worth of stake - a move that will help Reliance Communications pay debt and upgrade its networks - resulted in a rise of shares to Rs. 179; marking the company's highest intraday price since April 12.

With over 2 million Reliance Communications' shares reported changing hands in early Monday deals, the figure corresponds to their full-day average trading volume for nearly one month.

Meanwhile, even though there has been no official disclosure from Reliance Comm either about any timeframe or details for a possible deal, media reports have revealed that the interested companies include the Abu Dhabi-based Etisalat; South Africa's MTN; and the US carrier AT&T.

Since Reliance Communications is apparently the only leading Indian mobile player not having a foreign strategic investor, the company's board has also approved the pursuing of other "appropriate strategic consolidation opportunities."