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Bharti Infratel IPO subscribed 15% on day 1

12 Dec 2012
The much awaited initial public offering (IPO) of Bharti Infratel Ltd., a leading telecom tower infrastructures provider company in India, was subscribed 15 per cent on its debut yesterday.

According to the data available from the stock exchanges, Bharti Infratel, looking to raise Rs 4,500 crore, attracted bids for 2.45 crore shares as against 18.89 crore equity shares on offer. The Qualified Institutional Buyers (QIBs) category was subscribed 13 per cent, while the shares for retail investors got subscribed one per cent.

The issue started in the price band of Rs 210-240 per share and would close on December 14, 2012.

A day before the debut, Bharti Infratel had received Rs 651.7 crore from 18 anchor investors, including Morgan Stanley and Sundaram MF. The company had priced shares for the anchor investors at Rs 230 a piece and had allocated 2.83 crore shares or 15 per cent of the issue size to the investors.
Source: Dion Global   Type: IPO Related