Business Standard

Bharti Airtel gains as telecom arm gets regulatory nod for IPO

Bharti Infratel set a price band of Rs 210-240 per share for its initial public offering (IPO).

SI Reporter  |  Mumbai 

Bharti Airtel has moved higher by about 3% at Rs 339 after the telecom company said its tower arm set a price band of Rs 210-240 per share for its initial public offering (IPO).

“The red herring prospectus filed by Bharti Infratel, a subsidiary of Bharti Airtel, in relation to its of 189 million equity shares of a face value of Rs 10 each, has been approved by the registrar of companies on November 29, 2012,” said in a statement.

Bharti Infratel is set to raise up to $825 million (approx. Rs 4,500 crore) would be the country's biggest initial share offering in two years. The issue will be opened for subscription on December 11, 2012.

The stock opened at Rs 332 and hit a high of Rs 341 in late noon deals. A combined 8.18 million shares have changed hands on the counter so far on both the exchanges.

 

RECOMMENDED FOR YOU

Bharti Airtel gains as telecom arm gets regulatory nod for IPO

Bharti Infratel set a price band of Rs 210-240 per share for its initial public offering (IPO).

Bharti Airtel has moved higher by about 3% at Rs 339 after the telecom company said its tower arm Bharti Infratel set a price band of Rs 210-240 per share for its initial public offering (IPO).

Bharti Airtel has moved higher by about 3% at Rs 339 after the telecom company said its tower arm set a price band of Rs 210-240 per share for its initial public offering (IPO).

“The red herring prospectus filed by Bharti Infratel, a subsidiary of Bharti Airtel, in relation to its of 189 million equity shares of a face value of Rs 10 each, has been approved by the registrar of companies on November 29, 2012,” said in a statement.

Bharti Infratel is set to raise up to $825 million (approx. Rs 4,500 crore) would be the country's biggest initial share offering in two years. The issue will be opened for subscription on December 11, 2012.

The stock opened at Rs 332 and hit a high of Rs 341 in late noon deals. A combined 8.18 million shares have changed hands on the counter so far on both the exchanges.

 

image

LIVE MARKET

BSE 25201.90

-562.88 (-2.18 %)

NSE 7655.05

-167.95 (-2.15%)

Widgets Magazine

STOCK WATCH

Company Price() Chg(%)
Ent.Network 655.60 7.67
Goldline Intl. 194.00 4.81
Jyothy Lab. 320.80 4.73
PMC Fincorp 1.63 4.49
Sun TV Network 387.30 4.00
> More on BSE Gainers
Company Price() Chg(%)
Ent.Network 663.05 8.11
Amtek Auto 32.80 4.13
Sun TV Network 387.65 4.04
Jyothy Lab. 319.90 3.98
La Opala RG 589.70 3.91
> More on NSE Gainers
Company Price() Chg(%)
NCC 58.15 -12.23
Financial Tech. 99.95 -11.55
Welspun Corp 100.55 -8.76
Lycos Internet 23.50 -7.84
H D I L 57.00 -7.77
> More on BSE Gainers
Company Price() Chg(%)
NCC 58.10 -12.04
Financial Tech. 100.10 -11.14
Welspun Corp 100.20 -9.36
Himatsing. Seide 178.65 -7.86
H D I L 57.00 -7.62
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price