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Bharti Infratel Fixes Issue Price For Its IPO

Bharti Infratel Ltd. has fixed the issue price for its initial public offering at Rs.210 for retail and Rs.220 apiece for other investors, including qualified institutional buyers and high networth individuals.

This is lower than the price of R. 230 a share discovered through the book-building process, the company said.

The shares offered through the issue would be listed on the NSE and BSE. NSE is the designated stock exchange for the issue, it said.

Bharti Infratel's R. 4,500-crore IPO was subscribed 1.3 times. The company, the tower arm of the country's largest mobile operator Bharti Airtel, had fixed the price band at Rs.210-240 a share for the initial stake sale to the public, which opened on December 11.

by RTTNews Staff Writer

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