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

Editors Pick
Low-cost airline Allegiant Air announced its order for brand-new aircraft for the first time in its history. The carrier announced on Friday it had reached a deal to purchase 12 current-generation models of Airbus' A320 narrow-body jets. The company termed the deal as "another step towards Allegiant's... Los Angeles City officials have filed criminal charges against Soylent CEO Robert Rhinehart for placing a bright red shipping container on Montecito Heights hillside as part of his "experiment in sustainable living." City Attorney Mike Feuer Friday announced that his office has filed multiple criminal... A new study says that if Hillary Clinton is elected then her proposals will strengthen the U.S. economy and create millions of jobs. According to Moody's Analytics, Hillary Clinton's economic proposal would oversee a "somewhat stronger U.S. economy." The conclusion was reached after assessing her...
comments powered by Disqus
Follow RTT