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Bharti Infratel IPO fully subscribed on day 3


14 Dec 2012
IPO of Bharti Infratel Ltd., the largest since October 2010, got a strong response from the foreign investors leading to telecom Tower Company receiving full subscription, a day before its scheduled close.

The IPO attracted 1.21 times subscription with bids for 194.3 million shares as against 160.6 million on offer. About 180 million of these bids came from FIIs alone.

The qualified institutional buyers (QIBs) book, which closed yesterday, was oversubscribed 2.84 times, with nearly 95 per cent demand coming from foreign investors. Shares reserved for retail investors got 6 per cent subscription. And the shares reserved for institutional investors got subscribed 9 per cent.

The company has set a price band of Rs 210-240 per share, where at the upper end it could raise about Rs 4,533.60 crore, while at the lower end it could end up with Rs 3,966.90 crore.

The joint book running lead managers to the IPO are DSP Merrill Lynch, JP Morgan India, Standard Chartered Securities (India) and UBS Securities India.
Source: Dion Global   Type: IPO Related