Bharti Infratel has raised Rs 6.51 billion from 18 anchor investors a day before its initial public offering (IPO) opens to the public.
The company has allotted 28.3 million shares at Rs 230 per share to 18 anchor investors including Alliance Bernstein, Battery March, Clough Capital, Columbia Wagner, Morgan Stanley, Route One Capital, Sundaram Mutual Fund and Wellington.
The IPO comprises a fresh issue of about 146.2 million equity shares, and an offer for sale of over 42.6 million equity shares by some shareholders.
Bharti Infratel has set the price band between Rs 210 and 240 per share for the IPO which will close on December 14, 2012. At the upper end of the price band, the company plans to raise about Rs 43.5 billion and Rs 39.66 billion at the lower end of the band.
Bharti Infratel is offering a 10 per cent discount to retail investors. The company plans to use the proceeds from the IPO to fund its expansion and future acquisitions.
