Bharti Infratel Prices IPO, Raising About US$764 Million (Asia)
Source: Reuters | Author: Devidutta Tripathy
Indian telecommunications infrastructure company Bharti Infratel has priced an initial public offering, raising approximately US$764 million from institutional and retail investors. Bharti Infratel issued new shares, to be listed on India’s National Stock Exchange and the Bombay Stock Exchange, that reportedly amount to over three-quarters of the 188.9 million shares sold. The remainder of the shares comes from four existing investors: Compassvale Investments, a subsidiary of Singaporean sovereign wealth fund Temasek; Anadale, an investment vehicle of global multi-disciplinary investor Eton Park Capital Management; Goldman Sachs; and Japanese bank Nomura. Bharti Infratel’s private equity backers include KKR, AIF Capital and India Equity Partners, none of which disposed of any shares during the offering.