Friday, September 30, 2011

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.

But it is highly expected that both the tower companies, bharti Infratel and Indus tower, will see listing on Indian bourses in fiscal year 2013.

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