Bharti Infratel plans IPO, expects to raise $500 million

 Bharti Infratel, the tower arm of Bharti airtel, plans an initial public offering (IPO) to raise $500 million and is expected to file regulatory papers in September or October.

 The company, which has more than 30,000 towers, also holds a 42 percent stake in Indus Towers. It is believed that Standard Chartered and Morgan Stanley are among the frontrunners to help manage the IPO.

 Further, it is believed that the details of the IPO are currently being worked out and the size of the deal may change, depending on the company?s valuation.