Bharti Infratel Eyes Raising Over Rs.4,533 Cr Via IPO
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Bharti Infratel Eyes Raising Over 4,533 Cr Via IPO

Friday, 30 November 2012, 10:02 Hrs
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New Delhi: Bharti Infratel, the tower unit of Bharti Airtel, said it is looking at raising over 4,533 crore next month through its initial public offer (IPO).

The company has set a price band of 210 to 240 per share for its initial public offering comprising 188,900,000 equity shares, which will open on December 11 and close on December 14, the company said in a statement.

At the upper end of the price band, Bharti Infratel would raise about 4,533.60 crore, while at the lower end it could end up with 3,966.90 crore through the listing of the company on BSE and NSE.

The issue comprises a fresh issue of 146,234,112 equity shares and an offer for sale of 42,665,888 equity shares by certain shareholders.

The issue will constitute 10 percent of the post-issue paid up equity share capital of the company, the company said.

Bharti Infratel has more than 33,000 mobile towers and holds a 42 percent stake in Indus Towers, which has over one lakh towers in India.

The joint book running lead managers to the issue are DSP Merrill Lynch, JP Morgan India, Standard Chartered Securities (India) and UBS Securities India, the statement said.

The book running lead managers are Barclays Securities (India), Deutsche Equities India, Enam Securities, HSBC Securities and Capital Markets (India) and Kotak Mahindra Capital Company.

The Co-Book Running Lead Managers to the Issue are BNP Paribas, DBS Bank, HDFC Bank and ICICI Securities, it said.

Source: PTI
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