Bharti Infratel files for IPO, likely to raise $1 bn

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Bharti Infratel, the mobile phone tower arm of India’s leading telecom player Bharti Airtel, on Friday filed its draft prospectus for an initial public offering (IPO) with market regulator Securities and Exchange Board of India (Sebi).

The offering, which comprises both fresh issue and offer for sale from existing investor, is looking at raising close to $1 billion (Rs 5,500 crore) from the market, said people with direct knowledge of the matter.

Bharti Airtel, which owns 86 per cent stake in the company, will not tender its shares in the IPO.

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[Xen]

Bharti Infratel to go ahead with Rs 5,000 crore IPO, awaits SEBI clearance



Bharti Infratel, the mobile phone tower arm of Bharti Airtel is awaiting the Securities and Exchange Board of India's (SEBI) clearance to go ahead with its Initial Public Offering (IPO), Akhil Gupta, MD, Bharti Enterprises said on Thursday. Gupta went on to add that the company hopes for an IPO in this year itself.

"We are ready to go but obviously there is a process with Sebi. They have to clear that document. They are in the process of looking at it. I really can't give a timeline but I would really like to do as soon as possible," Bharti Enterprises Deputy Group CEO and MD Akhil Gupta told reporters here.

"It depends on Sebi. As soon as they clear it, we are ready to go," he added. In September, Bharti Infratel had filed papers for an IPO to raise about Rs 5,000 crore, which will make it the country's largest IPO in two years.


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