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
German lender Commerzbank AG reported a profit in its fourth quarter, compared to last year's loss, particularly benefited by lower loan loss provisions. Chairman Martin Blessing noted that its for the first time in five years that the bank attained a net profit of more than 1 billion euros. Looking ahead, for fiscal 2016, the bank expects a slight increase in net profit from the prior year. Activision Blizzard Inc. (ATVI) on Thursday reported a drop in profit for the fourth quarter, as revenues declined reflecting weak demand for Skylanders SuperChargers and Guitar Hero Live. The video game publisher's profit and revenues fell short of Wall Street estimates. Moving ahead, the company detailed... CBS Corp. (CBS, CBS-A) Thursday reported a drop in profit for the fourth quarter, hurt largely by one-time charges. However, on an adjusted basis, earnings for the three-month period increased on higher revenues across all major segments, except local broadcasting division. The New York-based company's...
comments powered by Disqus
Follow RTT