logo
Plus   Neg
Share
Email
Comment

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
After months of bickering, Aurora Cannabis and CanniMed Therapeutics are moving close to a game-changing merger in Canada's red-hot marijuana sector. The big hangup was Aurora's insistence that CanniMed not overpay for smaller rival NewStrike. However, Aurora in its urgency to get the deal done... Budweiser, which has been reigning as the 'king of beers' is now number 4 in sales in U.S. Budweiser lost to Miller Lite in 2017, according to Beer Marketer's Insights, the publication focused on beer industry statistics. Activist investor Bill Ackman's hedge fund Pershing Square Capital Management L.P. is cutting ten employees from its workforce, according to media reports, citing people with knowledge of the matter. The job cuts on Friday have reportedly brought the New York-based company's head count down to 46 and were mostly in the hedge fund's back-office and support staff.
comments powered by Disqus
Follow RTT