Bharti Infratel is a provider of telecom towers and related infrastructure and on a consolidated basis, is one of the largest in India, "based on the number of towers that Bharti Infratel owns and operates and the number of towers owned or operated by Indus, that are represented by Bharti Infratel's 42 per cent equity interest in Indus," according to the offer document.
"The enterprise valuation has been agreed to be in the range of $10-12.5 billion and the final valuation will be determined on the basis of Bharti Infratel's actual operating performance in 2008-09," a Bharti statement said.
The company plans to raise Rs 5,000 crore by selling its shares to public.
Bharti Infratel plans to raise Rs 4,500 cr through its IPO.
KKR has committed to investing around Rs 1,000 crore in Bharti Infratel, through KKR's Asia private equity fund and global private equity fund.
The biggest initial public offer in over 2 year, made by telecom tower company Bharti Infratel, has received total subscription of over Rs 4,365 crore or 1.3 times the issue size on its last day today.
The company has set a price band of Rs 210 to Rs 240 per share
Investors lapped it up a day ahead of its closure.
Investors including units of Morgan Stanley and Citigroup have agreed to buy 28.3 million shares of Bharti Infratel at Rs 230 apiece.
It is introducing a new business model to manage fixed line and DSL broadband networks.
The company is also in discussions with state-run telecom major BSNL for sharing passive infrastructure across the country, Bharti Airtel's President Manoj Kohli told reporters after announcing the second quarter results. The company intends to have a minority stake in its tower company after the demerger.
British telecom giant Vodafone is in discussions to sell its about 5 per cent stake in telecom infrastructure company Indus Towers to Bharti Airtel, according to industry sources. The deal, if it goes through, could be worth over Rs 3,300 crore, they said. When contacted, Vodafone refused to comment on the matter. An e-mail sent to Bharti Airtel did not elicit any response.
The company received a fresh equity infusion in 2012-13.
After the Bharti Infratel deal, India could see more group approach in PE investing.
The company has similar pact with Bharti Infratel.
VIL, in which Vodafone holds 45.39 per cent stake, is staring at unpaid statutory dues of Rs 53,038 crore, including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, and has already warned of shutdown if no relief is given.
The telecom tower-transmission business is going to see a shake-up with cash-rich and independent companies moving in with aggressive plans.
Retail investors shunned the Bharti Infratel initial public offering.
Within a year of Gopal Vittal becoming the joint MD and CEO of Bharti Airtel's India operations, the company has elevated him as the MD and CEO for Bharti Airtel's operations in India and South Asia.
Reliance is looking at a cost of Rs 1 lakh per base station, which would be used to transmit telecom signals. Compare this with the existing players who have set up towers incurring a cost anywhere between Rs 5 lakh and Rs 50 lakh, depending on the height and location.
Bharti Infratel's Rs 4,500-cr share sale to be the largest since Coal India's in 2010.
The Jio-Bharti battle will not just be limited to mobile telephony but will extend to the fibre to home space too.
Institutional investors led by foreign portfolio investors have bought these shares.
Garners a little over 300,000 retail applications Bharti IPO subscribed 15 per cent on Day One.
Tech Mahindra and United Spirits will replace them in the 50-share index of the National Stock Exchange with effect from March 28.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
This is the biggest IPO in the Indian market since Bharti Infratel's over Rs 4,000 crore public offer in December 2012.
This recognition is a testimony of India's strong belief in promoting entrepreneurship
This, despite squeeze in start-up funding; $946 mn Bharti Infratel deal is biggest so far this year
InterGlobe's IPO is India's biggest since the listing of around $750 million by Bharti Infratel Ltd in December 2012.
Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P companies," it said.
PE giants Apollo, Bain Capital and Advent International are keen to pick stake in Viom
Officials of Reliance Jio Infocomm claimed to have achieved broadband speeds on their networks that are 10-12 times faster than 3G services.
Telecom operator Bharti Airtel on Friday said it has signed an agreement to buy Vodafone's 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company. Debt-ridden Vodafone Idea (VIL) has been unable to pay dues to Indus Towers and both VIL and promoter Vodafone have proposed a payment plan to clear the outstanding amount by July 15. In the meantime, VIL has committed to pay certain minimum amount each month to Indus Towers.
Bharti's ratings headroom is likely to improve with an equity infusion, planned asset sales and growing EBITDA from Africa.
Banking and telecom will see the highest impact of this transition.
The company commands a market valuation of Rs 31,702.37 crore (Rs 317.02 billion).
The combined market capitalisation of the top 873 family-owned companies was down 26.3 per cent year-on-year (YoY) to Rs 61.8 trillion at the end of trading on Tuesday. It had grown 6 per cent in FY19 and nearly 20 per cent in FY18.
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