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Bharti Infratel announces initial public offer

Posted on Dec 06, 07:32PM | UNI

Bharti Infratel Limited ( The 'Company' or the 'Issuer) is proposing an initial public offer of 188,900,000 equity shares of face value of 10 each ('Equity Shares').

The Price band has been fixed between '210 and '240 per share and the issue opens for subscription on December 11, 2012 and ends on December 14, 2012 for non institutional bidders and retail individual investors and on December 13 for QIB Bidders, Company Chiarman Rakesh Bharati Mittal and Chief Financial Officer Pankaj Mighani told a press conference here.

Mr Mittal said the Anchor Investor Bid/issue period shall be one working day prior to the Bid/issue opening date.

The issue comprises of a fresh issue of 146,234,112 Equity shares by the Company (the 'Fresh Issue') and an offer for sale of 42,665,888 equity shares by certain shareholders ( the 'Offer for Sale').

The issue will constitute 10 per cent of the post-issue paid up Equirty Share capital of the Company, Mr Mighani said.

Mr Mittal also said the company, in consultation with the selling shareholder and the Joint Global Coordinators and Book Running lead managers (the JCBBRLMs), the Book Running Lead Managers (the 'BRLMs') and the co-book running lead Managers (the 'CBRLMs') have fixed the price band between '210 and '240 per Equity Share for the IPO.

The Equity Shares offered through the issue are proposed to be listed on the National Stock Exchange of India Limited and the BSE Limited.