Bharti Infratel to Raise $120 million of IPO Shares to Anchor Investors
December 11, 2012 3:15 PM EST
Bharti Infratel Ltd, the telecommunications tower arm of top Indian mobile carrier Bharti Airtel (BRTI.NS), said it will allot shares worth $120 million to cornerstone investors as part of its up to $832 million initial public offering.
Investors including units of Morgan Stanley (MS.N) and Citigroup (C.N) have agreed to buy 28.3 million shares of Bharti Infratel at 230 rupees apiece, the company said in a regulatory filing on Monday.
The share sale opens for public subscription on Tuesday and will close on Friday.
Bharti Infratel has set a price band of between 210 rupees and 240 rupees a share for the issue of 188.9 million shares, or 10 percent of its equity, in what will be the country's biggest IPO in two years.
Bharti Infratel is selling about 146 million new shares in the IPO, while four private equity investors including arms of Singapore state investor Temasek TEM.UL and Goldman Sachs (GS.N) are selling the remainder.
Bank of America Merrill Lynch (BAC.N), JPMorgan (JPM.N), Barclays (BARC.L), Standard Chartered (STAN.L), Deutsche Bank (DBKGn.DE), HSBC (HSBA.L) and UBS (UBSN.VX), and India's Kotak Mahindra and Enam, are Bharti Infratel's advisers for the IPO.
Most Popular Slideshows
- Derek Jeter With The New York Yankees Through The Years [IN PICTURES]
- George Clooney And Amal Alamuddin's Wedding In Venice: Photos Of Groom And His Family, Friends [Slideshow]
- Photos Of George Clooney And Amal Alamuddin, They Get Married Again On Monday [Slideshow]
- NFL Recap: New York Giants 45, Washington Redskins 14 [PHOTOS]
Join the Conversation
- Forget Nexus 6 Release Date, Android Phones Will Soon Showcase Pure Google Apps & Features
- iPhone 6 vs Moto G 2014: Motorola’s Budget Smartphone Takes On Apple’s Premium Smartphone
- Galaxy Note 4 Pre Order Starts in the US, Get Samsung Note Ahead of October 14 Release
- $249.99 Motorola Moto 360 Smartwatch's First Promo Out; 'Stone Leather' Replaces 'Gray Leather' - Available In BestBuy [Watch Video]
- BlackBerry Passport Sold Out As Preorders Reached 200,000
- iOS 8 And iOS 8.0.2 Security Flaw Revealed, Anyone Can Easily Bypass Touch ID And Passcode Security Features
- Australia Cracks Down On International Money Laundering Syndicate