Bharti Infratel allots 28,335,000 mn Equity Shares to 18 Anchor Investors at Rs.230

Bharti Infratel Limited (the "Company") has finalized the allocation of 28,335,000 Equity Shares (15% of the total Offer of 188,900,000 Equity Shares) to 18 Anchor investors at Rs. 230 aggregating to Rs. 6517 mn (Rs. 651 crores). The Anchor Investors' list includes Alliance bernstein, Battery March, Clough capital, Columbia Wagner, Morgan stanley, Route One Capital, Sundaram MF, Wellington among others.

The company is proposing a public offer of 188,900,000 equity shares of face value of Rs. 10 each (the "Equity Shares") for cash at a price to be determined through a 100% Book Building Process (the "Offer"). The Price Band has been fixed between Rs. 210 and Rs. 240 per Equity Share. The Issue comprises of a fresh issue of 146,234,112 Equity Shares by the Company ("the FRESH ISSUE") and an offer for sale of 42,665,888 Equity Shares by certain shareholders (the "OFFER FOR SALE"). The Offer will constitute 10% of the post-Offer paid-up Equity Share capital of the Company.

The Issue has been assigned a 4/5 grading by CRISIL Limited indicating that the fundamentals of the Issue are above average related to other listed equity securities in India.

Source : Equity Bulls

Keywords