Bharti Infratel Ltd, the telecommunications tower unit of India's largest telecom company Bharti Airtel announced details of its proposed IPO.
Quick snap shot
- The company has set a price band of Rs 210-240 per share, which means Bharti Infratel will raise about Rs.4,530 crore at the upper end, while at the lower end it will raise Rs 3,970 crore.
- The issue will be open from December 11- December 14
- The company is offering 10% retail discount per share
- This IPO will be the biggest in two years after Coal India which raised about Rs15,000 crore in October 2010
- Bank of America Merrill Lynch, J.P. Morgan, Standard Chartered, Deutsche Bank, HSBC, UBS, and India's Kotak Mahindra and Enam are advising Bharti Infratel on the IPO.
- Bharti Infratel is controlled by Sunil Mittal
- The shares of the Bharti Airtel dropped by 1.21% at Rs 326 on BSE at 10.35 am IST.