Telecom giant Bharti Airtel’s subsidiary Bharti Infratel has plans to enter into primary market. Bharti Infratel will be the first mobile phone tower company to get listed in market. The company plans to mobilize money through equity dilution. The company has filed draft prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) for the same. It plans to raise nearly Rs 5500 crore ($1 billion) by offering around 190 million shares. The price band of the IPO may be around Rs 250.
Bharti Infratel’s IPO is likely to be launched in January 2013. The company has a large number of mobile phone towers in all parts of the country. It manages around 80,000 towers.
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