Bharti Airtel Ltd. is looking to raise about $1 billion through an initial public offering of shares in its telecommunications tower unit Bharti Infratel Ltd., bankers with knowledge of the matter said Monday.
The offering could be India's biggest IPO since October 2010.
Bharti Infratel is likely to file an initial prospectus on the share offering with the Indian market regulator as early as next week, one person said.
Bharti Airtel, India's largest mobile-phone-services company by revenue and users, is likely looking to capitalize on a recent improvement in sentiment toward Asia's primary markets and an upturn in India's stock market.
A few successful IPOs in Malaysia and the top-end pricing on Monday for Japan Airlines Co.'s $8.5 billion IPO—the world's second-biggest IPO this year after Facebook Inc. FB +3.30% in May—signal a possible revival in Asia's IPO markets.
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The offering could be India's biggest IPO since October 2010.
Bharti Infratel is likely to file an initial prospectus on the share offering with the Indian market regulator as early as next week, one person said.
Bharti Airtel, India's largest mobile-phone-services company by revenue and users, is likely looking to capitalize on a recent improvement in sentiment toward Asia's primary markets and an upturn in India's stock market.
A few successful IPOs in Malaysia and the top-end pricing on Monday for Japan Airlines Co.'s $8.5 billion IPO—the world's second-biggest IPO this year after Facebook Inc. FB +3.30% in May—signal a possible revival in Asia's IPO markets.
Read More . . .