It was completely a flop show! Telecom tower infrastructure services provider Bharti Infratel has disappointed investors on listing day itself, falling nearly 13 percent to close at Rs 191.65 on the National Stock Exchange. The issue price is at Rs 210 for retail investors and Rs 220 for other investors.
Shares of Bharti Infratel, one of the largest telecom tower infrastructure service providers and a subsidiary of country's largest telecom operator Bharti Airtel, dropped below Rs 200 level - on expected lines - in early trade itself.
Country's largest telecom operator Bharti Airtel fell more than 1 percent in early trade ahead of listing of its subsidiary Bharti Infratel. The stock touched an intraday low of Rs 314 on the Bombay Stock Exchange.
Telecom tower infrastructure service provider Bharti Infratel will list its equity shares on exchanges on Friday, December 28, 2012. SP Tulsian of sptulsian.com feels the stock can fall to about Rs 180-190, citing weak response from retail and high networth individuals.
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.
In an interview to CNBC-TV18, SP Tulsian, sptulsian.com said that he doesnt expect the central bank to cut rate on Tuesday. "RBI will be taking up 50 bps cut in one go and that is likely to happen in January," he added.
The Rs 4,500 crore IPO of Bharti Infratel, a subsidiary of country's largest telecom operator Bharti Airtel, has oversubscribed 1.30 times on Friday (final day), as per data available on National Stock Exchange.
The Rs 4,500 crore IPO of Bharti Infratel (BIL), one of the largest tower infrastructure companies, has been subscribed 1.21 times so far, helped by qualified institutional buyers (QIBs).
The Rs 4,500-crore Bharti Infratel IPO, tipped as the second biggest public issue in two years, was subscribed 15 per cent on the first day of the offer today.
Managing Editor of CNBC-TV18, Udayan Mukherjee says the price of Rs 210 (a lower end of price band of Rs 210-240), which broadly coincides with 10 times EV/EBITDA, seems like a reasonable multiple to pay. Also, it works out to about Rs 50 lakh a tower, which also seems like a reasonable kind of an asset value to impute, he quickly adds.
Bharti Infratel (BIL), one of the largest tower infrastructure companies, has opened its 18.89 crore shares initial public offer for subscription on Tuesday. The price band for the issue is fixed at Rs 210-240 a share.
The 18.89 crore shares IPO of Bharti Infratel (BIL), a tower arm of country‘s largest telecom operator Bharti Airtel, is set to open for subscription on Tuesday, December 11.
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.
Emkay Global Financial Services has come out with its report on Bharti Infratel IPO. According to the research firm, the company has robust business model. Near term growth in the industry is not encouraging due to slower expansion by the telecom service providers and license cancellations.
Rajen Shah, CIO of Angel Broking advised avoiding the Bharti Infratel IPO that will be opened for subscription from tomorrow till Friday, December 14.
The rupee higher at 54.32/33 levels in opening trades as regional equities were positive. The pair had closed at 54.47/48 on Friday.
Indian shares are expected to remain volatile as some market participants argue that the reform optimism-led buying may give way to a technical correction.
KRChoksey has come out with its report on Bharti Infratel IPO. According to the research firm, high capital requirement and comprehensive technology are major entry barriers for new entrants and it reduces risk for the company on operational front. One can subscribe to this issue, says research firm.
Atul Mehra, head, investment banking, JM Financial explains to CNBC-TV18 that the MNC segment of stocks offers a big opportunity and that the market and investors are eagerly awaiting for the launch of the Bharti-Infratel IPO.
Bharti Infratel, a tower company owned by the telecom operator Bharti Airtel, has filed draft red herring prospectus with market regulator SEBI for public issue of 18.89 crore equity shares.
Bharti Airtel, India's largest telecom operator is not going to participate in its tower company's initial public offer.
India's largest cellular carrier Bharti Airtel is considering raising up to $1 billion through an initial public offering (IPO) of its mobile tower arm Bharti Infratel, the Financial Times said on Wednesday.