Mumbai: Shares of Bharti Infratel Ltd, which raised over Rs.4,118 crore in the biggest IPO in two years, will be listed on the stock exchanges on Friday.
The company has fixed the issue price at Rs.220 per share for institutional investors, while giving a discounted price of Rs.210 for retail investors.
“Trading Members of BSE are hereby informed that effective from Friday, 28 December, the equity shares of Bharti Infratel Ltd shall be listed and admitted to dealings on the exchange in the list of ‘B’ Group of Securities,” a BSE circular said.
The equity shares will also be listed on the National Stock Exchange (NSE) as per a separate notification. With the sale of 18.89 crore shares, the company had raised Rs.4,118.01 crore, including about Rs.1,388 crore from retail investors and Rs.2,078 crore from other investors such as QIBs (qualified institutional buyers) and HNIs (high-net-worth individuals).
The company had said it plans to use the proceeds from the IPO to fund its expansion and future acquisitions. From 18 anchor investors, Bharti Infratel had raised Rs.651.7 crore. It allocated 2.83 crore shares at a price of Rs.230 apiece to them.
IPO of the Sunil Bharti Mittal led-company was subscribed 1.3 times. The issue was open from 11-14 December. Of the total shares reserved for retail investors, there were bids for 19%, while non-institutional investors category was subscribed 29%.
On the other hand, the QIBs book, was subscribed 2.84 times. Bharti Infratel IPO is the biggest public issue in two years. State-run Coal India’s initial public offer raised about Rs.15,500 crore issue in October 2010.