PE-backed Bharti Infratel IPO oversubscribed
The $830 million IPO of Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, was oversubscribed by investors on Thursday. The intended flotation – which has been mooted for more than a year – will be the country’s largest in two years after Coal India raised $3.43 billion in 2010.
The IPO opened for investors on December 11. By 5 p.m. India time on Thursday, the offering was 1.2 times oversubscribed, exchange data showed. The institutional tranche was 2.8 times oversubscribed. The...
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