Bharti Infratel IPO to open on Dec 11, eyes raising Rs 4,533 cr

Bharti Infratel, the tower unit of Bharti Airtel, is looking to raise over Rs 4,533 crore in December through its initial public offering (IPO).

"The company has set a price band of Rs 210 to Rs 240 per share for its IPO, comprising 188,900,000 equity shares, which will open on December 11 and close on December 14," Bharti Infratel said in a statement.

Bharti Infratel has more than 33,000 mobile towers and holds a 42 per cent stake in Indus Towers, which has over one lakh towers in India.

At the upper end of the price band, Bharti Infratel would raise about Rs 4,533.60 crore, while at the lower end it could end up with Rs 3,966.90 crore through the listing of the company on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

"The IPO comprises a fresh issue of 146,234,112 equity shares and an offer for sale of 42,665,888 equity shares by certain shareholders. It will constitute 10 per cent of the post-issue paid up equity share capital of the company," Bharti Infratel said.

The joint book running lead managers to the issue are DSP Merrill Lynch, JP Morgan India, Standard Chartered Securities (India) and UBS Securities India, the statement said.

The book running lead managers are Barclays Securities (India), Deutsche Equities India, Enam Securities, HSBC Securities and Capital Markets (India) and Kotak Mahindra Capital Company.

The Co-Book Running Lead Managers to the Issue are BNP Paribas, DBS Bank, HDFC Bank and ICICI Securities.

With inputs from PTI