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.

Buy Idea Cellular - Indus Tower IPO to unlock value

 Idea cellular is india's 4th larget telecom operator behind Bharti airtel, Vodafone an Reliance with more than 90 million subscribers. At the current rate of subscriber addition the company will reach 100 million subscriber mark by August 2011.

The company has 16% stake in Indus tower which is the world's larget telecom tower company  and its valuation is estimated to be approximately Rs. 55,000 crores. So idea's stake in Indus tower is worth approximately Rs. 8,800 crores.

At the CMP of Rs. 70 the company commands a market cap of approx. Rs.23,000 crores. Excluding its stake in Indus tower the company is available at a value of just