Bharti airtel has said that it has not yet taken a decision on whether to float an initial public offering (IPO) for its telecom tower unit, Bharti Infratel.
It is believed that Bharti Infratel is planning an IPO in late 2011, to raise at least $500 million. Thereafter, the company is likely to be valued at about $10 billion.
Also, the proposed IPO is expected to provide an exit to shareholders. Since the company had raised $1.25 billion in 2007-08 from private equity firms, it is required to provide them with an exit option.
Bharti Infratel has more than 30,000 towers under operations. The company also holds 42 per cent stake in joint venture tower company Indus Towers.
