Bharti Infratel IPO gets Rs 651.7 cr from anchor investors
Bharti Infratel, a tower subsidiary of leading telecom operator Bharti Airtel has received Rs 651.7 crore from anchor investors on Monday - one day ahead of issue opening.
December 10, 2012 / 20:01 IST
Bharti Infratel, a tower subsidiary of leading telecom operator Bharti Airtel has received Rs 651.7 crore from anchor investors on Monday - one day ahead of issue opening.
The company has allotted 2.83 crore shares at Rs 230 a share to 18 anchor investors that included Sundaram MF, Columbia Acorn International, Wanger International, Riversource Variable Series Trust, Wellington Management Company, AllianceBerstein Global Thematic Growth Fund Inc, Morgan Stanley Mauritius Company Limited, Citigroup Global Markets Mauritius Private Limited, Morgan Stanley Investment Management, Clough Capital Partners LP, Commonwealth Equity Fund Limited and Route One Invt Company LP.The 18.89 crore IPO of Bharti Infratel will be opening for subscription from tomorrow till Friday, December 14, 2012. The company intends to raise around Rs 3,967-4,534 crore through the issue at a price band of Rs 210-240 per share. A discount of Rs 10 to the final issue price will be offered to retail investors.The equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.The book running lead managers to the issue are DSP Merrill Lynch, JP Morgan India, Standard Chartered Securities, UBS Securities India, Barclays Securities India, Deutsche Equities India, Enam Securities and Kotak Mahindra Capital Company.IPO challengesAppetite has been muted among retail and HNIs while sources said the issue is
trading at discount in grey market.State-owned NMDC offer for sale will open on December 12 and is going to raise around Rs 6000 crore. NMDC issue may require DII support.Also Read
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