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Sep 14, 2012, 09.26 PM IST
Telecoms carrier Bharti Airtel's mobile phone tower unit filed a draft prospectus with the capital markets regulator on Friday for an initial public offering that aims to raise nearly USD 1 billion, two sources with direct knowledge of the matter said.
Bharti Infratel's IPO is likely to launched in January, the sources said, declining to be named as the information is not public yet. In a separate statement to the stock exchange, Bharti Airtel, which owns about 86% of Bharti Infratel, said it had decided not to participate in the share sale. A Bharti spokesman declined to comment beyond the statement. Investors including Temasek Holdings, Kohlberg Kravis Roberts & Co, Goldman Sachs, Macquarie Group, Citigroup, Investment Corporation of Dubai and AIF Capital own about 13% of Bharti Infratel.
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