logo
Share SHARE
FONT-SIZE Plus   Neg

Bharti Infratel Plans To Raise Around $800 Mln Through IPO: WSJ

Bharti Infratel Ltd., a unit of India's first private and largest integrated telecom services provider Bharti Airtel Ltd., plans to raise around $800 million by selling a 10% stake through an initial public offering in the second week of December, the Wall Street Journal reported citing two people familiar with the IPO plans.

Bharti Infratel expects its draft IPO prospectus to be approved by capital-markets regulators by Friday, one of the people. However, an official at the regulator, the Securities and Exchange Board of India, said no decision had been made on the approval or its timing, the Journal reported.

The Journal said that Bharti Infratel plans to sell 188.9 million equity shares, of which 146.23 million shares will be issued fresh and the rest will be sold by existing investors.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

More Breaking News

0 Articles
Editors Pick
Health IQ Insurance Services, a startup focused on providing life insurance for health-conscious individuals, said it has secured $34.6 million in Series C funding, led by Andreessen Horowitz. To date, the company has raised a total of $81 million in funding mostly from its existing investors. General Motors Co. is recalling nearly 49,000 trucks worldwide to fix a fuel tank issue that can increase the risk of a fire. The recall covers Chevrolet Silverado 3500 and GMC Sierra 3500 trucks from the 2011 through 2015 model years, all equipped with dual fuel tanks. Meredith Corp. is reportedly in talks for the acquisition of Time Inc, with a staunch support from billionaire brothers Charles and David Koch. Des Moines-based Meredith is the publisher of Family Circle and Better Homes and Gardens and aims to acquire the publisher of Time, People and Fortune Magazines.
comments powered by Disqus
Follow RTT