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Sunday, December 9, 2012

BHARTI INFRATEL LIMITED IPO

Bharti Infratel's initial public offering (IPO) of over 18.89 crore equity shares of face value of Rs 10 each opens for subscription on December 11.

Issue Snapshot
Issue Open: 11-December-12
Issue Close: 14-December-12
Price Band: INR 210-INR 240
Issue Size: INR 39,669 mn - INR 45,336 mn
Market Cap: INR 396,615 mn - INR 453,274 mn
IPO Grading: CRISIL IPO Grade 4/5
Listing: NSE & BSE
Lot Size: 50 or multiples of 50 equity shares
Discount: A discount of Rs. 10/- to the issue priceis being offered to Retail Individual Bidders.


Bharti Infratel is one of the oldest cellular tower infrastructure companies with towers allover India (all 22 circles). Bharti Infratel also owns 42% stake in Indus Towers. So, combinely Bharti Infratel has 80,656 towers (34,220 BIL and 46,436 Indus). It builds, operates and owns towers which are then rented to Telecom operators across the country. Revenues for company were INR 94.5bn with Net profits of INR 7.5bn in FY12.

The Company caters to Bharti , Vodafone and Idea which reflects stable annuity business with huge growth potential for the company from these top 3 telecom companies in India. The Telecom tower infrastructure business is in a growth phase with rural penetration still at a paltry 38.3%, this presents huge opportunity to expand network base further.

New technologies like 3G and 4G, made available at high frequency (lower wavelength) by the government, require wider tower base and hence new tower installations/infrastructure.

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