Bharti Infratel to list shares on December 28
Bharti Infratel, a subsidiary of country's largest telecom operator Bharti Airtel, is going to list its equity shares on exchanges on Friday, December 28, 2012.
December 27, 2012 / 17:25 IST
Bharti Infratel, a subsidiary of country's largest telecom operator Bharti Airtel, is going to list its equity shares on exchanges on Friday, December 28, 2012.
The company has fixed issue price at Rs 220 for qualified institutional and non-institutional investors while the price for retail investors is Rs 210 (Rs 10 discount to issue price).The issue, which opened for subscription during December 11-14, was oversubscribed 1.30 times. The reserved portion of QIBs was oversubscribed 2.84 times while non-institutional and retail investors' portion subscribed just 29 percent and 19 percent, respectively.The company received more than Rs 3,000 crore through fresh issue of over 14.62 crore equity shares while the rest of amount that raised through offer for sale of over 4.26 crore shares was received by Goldman Sachs, Anadale, Nomura and Compassvale / Temasek. The company that has a pan India presence with operations in all 22 telecommunications circles intends to use issue proceeds for installation of 4,813 new towers; upgradation & replacement on existing towers; and green initiatives at tower sites.The equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.Also Read:
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