Bharti Infratel IPO band set at 210-240 rupees/share
NEW DELHI (Reuters) - Bharti Infratel Ltd, the telecommunications tower unit of top Indian phone carrier Bharti Airtel Ltd(BRTI.NS), has set a price band of 210 rupees to 240 rupees a share for its initial public offering, the firm said on Friday.
The issue, which will open on December 10 for cornerstone investors and close on December 14, will raise about 45.34 billion rupees at the upper end of the price band.
The offering - 188.9 million shares or 10 percent of Bharti Infratel - is set to be India's biggest IPO in two years after state-run Coal India Ltd(COAL.NS) raised $3.5 billion in October 2010. (Reporting by Devidutta Tripathy; Editing by Daniel Magnowski)
- Tweet this
- Share this
- Digg this
India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth largest coal reserves, a source familiar with the matter said. Full Article