Bharti
Airtel Ltd has announced that the Red Herring Prospectus filed
by Bharti Infratel Limited, a subsidiary of Bharti Airtel
Limited, in relation to its initial public offer of
188,900,000 equity shares of a face value of Rs. 10 each (the
"issue"), has been approved by the Registrar of
Companies on November 29, 2012.
The
Issue will be opened for subscription on December 11, 2012.
The price band has been fixed between Rs. 210 to Rs. 240 per
share.
Bharti
Infratel is selling 146.2 million new shares in the IPO, while
four of its shareholders including arms of Singapore state
investor Temasek and Goldman Sachs are selling 42.7 million
shares, reports said.
There
are reports that Bank of America Merrill Lynch, J.P. Morgan,
Standard Chartered, Deutsche Bank, HSBC, UBS, as well as
India's Kotak Mahindra and Enam are advising Bharti Infratel
on the IPO.
SOURCE
: http://www.indiainfoline.com