Bharti Infratel sets price band for $825 m IPO

Bharti Infratel, the telecom tower arm of telecom company Bharti Airtel, on Friday announced plans to raise up to Rs 4,533.60 crore ($845 million) in what is perceived to be India's biggest initial public offering (IPO) in two years after state-run Coal India's offer.

The Sunil Mittal-led company has set a price band of Rs 210 to Rs 240 per share for its IPO, which will open on December 10 for anchor investors, while a day later for the public and will close on December 14, 2012. At the lower end, the issue could end up with Rs 3,966.90 crore.

It comprises fresh issue of about 14.62 crore equity shares and offer for sale of over 4.26 crore shares by shareholders.

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