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Nov 30, 2012, 04.10 PM IST | Source: Moneycontrol.com

Bharti Infratel IPO price band set at Rs 210-240/share

The company has priced the issue between Rs 210 to Rs 240 per share and is expected to raise between Rs 4000 crore to Rs 4700 crore, The issue opens on December 11 and closes on December 14.

Bharti Infratel, tower unit of Bharti Airtel will begin its road show for its initial public offer (IPO) today after getting market regulator Sebi's consent.

The company has priced the issue between Rs 210 to Rs 240 per share and is expected to raise between Rs 4000 crore to Rs 4700 crore, The issue opens on December 11 and closes on December 14.

Bharti Infratel is coming with an issue size of 18.89 crore shares comprising of fresh issue of14.62 crore shares and 4.2 crore shares from existing investor shareholders.

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The proposed IPO will be one of the biggest after the state-run Coal India raised Rs 15,475 crore in October 2010.

Bharti Infratel has over 34,000 towers across 18 states covering 11 telecom circles and also holds 42 per cent stake in Indus Towers which has around 1,10,000 towers.

Bharti Infratel will be the first IPO from the telecom tower sector.

READ MORE ON  Bharti Infratel, IPO, towers
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