Bharti Infratel IPO : Price Band, Size, Valuation

Bharti Infratel Ltd, the tower arm Bharti Airtel Ltd, is set to raise up to INR 4,500 crores in the month of December through it IPO. The company set a price band of 210-240 rupees per share for its IPO, which will open on Dec.10 for cornerstone investors and a day later for the public, closing on Dec. 14, it said on Friday. At the upper end of the price band, Bharti Infratel would raise about 45.3 billion rupees ($825 million).

In the sale of 188.9 million shares, or 10 percent of the company, Bharti Infratel will sell about 146 million new shares, while four of its stockholders, including arms of Singapore state investor Temasek and Goldman Sachs, are selling 42.7 million shares, according to the regulatory filing.Bharti Airtel, which owns about 86 percent of Bharti Infratel, will not sell any shares.

Bharti Infratel and Indus Tower IPO in fiscal 2013

Bharti Airtel is unlikely to come out with an IPO offer for its tower unit in the current financial year that ends in March said Akhil Gupta, deputy group CEO.

Bharti Infratel, the mobile phone carrier's telecom tower arm, was looking at a minimum $500 million IPO, for which it was expected to file regulatory papers in September, but could not due to uncertain market conditions and some objections raised by Vodafone and Idea regarding the listing of Indus Tower before Bharti Infratel.