Infratel IPO before year end

26 Nov 2012

Indian towerco Bharti Infratel plans to raise USD800 million by selling a 10% stake via an initial public offering (IPO) early next month, reports the Wall Street Journal citing two people involved in the sale. The IPO is expected to be launched in the second week of December, though the prospectus is yet to be approved by the regulator. CommsUpdate reported in mid-September this year that the IPO was expected to generate around USD1 billion, and would not include any of the shares held by Bharti Airtel – which owns 86% of the tower company.

India, Bharti Airtel