KKR looking to exit Bharti Infratel with estimated $230 million in stake sale

US-based private equity (PE) firm, Kohlberg Kravis Roberts and Co. (KKR) is planning to sell its stake in Bharti Infratel for about $230 million (Rs 13.93 billion).

The PE firm intends to sell its stake through the block trade route on the stock exchanges. KKR has already invited bids from investment banks such as Morgan Stanley, UBS and Citigroup for the same.

At present, KKR owns 2.38 per cent stake (45 million shares) in Bharti Infratel. In 2008, KKR had bought Bharti Infratel?s shares at Rs 220 per share for a total consideration of Rs 9.9 billion ($250 million). KKR?s stake in the company is currently valued at $232 million.

Bharti Infratel currently owns and operates 36,000 telecom towers across India, and has a 42 per cent stake in Indus Towers.