Bharti Infratel IPO price band likely at 210-240 rupees/share - sources

NEW DELHI Fri Nov 30, 2012 12:04am IST

The sun rises behind a communications tower in New Delhi March 20, 2006. REUTERS/B Mathur/Files

The sun rises behind a communications tower in New Delhi March 20, 2006.

Credit: Reuters/B Mathur/Files

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NEW DELHI (Reuters) - Bharti Infratel Ltd, the telecommunications tower unit of top Indian phone carrier Bharti Airtel Ltd (BRTI.NS), is likely to set a price band of 210 rupees to 240 rupees a share for its initial public offering, sources with direct knowledge of the pricing said.

The issue, which will open on December 10 and close on December 14, will raise about 45.34 billion rupees at the upper end of the price band.

The Bharti Infratel management will decide and formally announce the IPO price band on Friday, the sources, who declined to be named, told Reuters.

A Bharti Group spokesman was not immediately available for a comment.

(Reporting by Sumeet Chatterjee; Editing by Elaine Hardcastle)

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