Bharti Infratel IPO price band likely at 210-240 rupees/share-sources

NEW DELHI Thu Nov 29, 2012 1:32pm EST

NEW DELHI Nov 29 (Reuters) - Bharti Infratel Ltd, the telecommunications tower unit of top Indian phone carrier Bharti Airtel Ltd, is likely to set a price band of 210 rupees to 240 rupees a share for its initial public offering, sources with direct knowledge of the pricing said.

The issue, which will open on Dec. 10 and close on Dec. 14, will raise about 45.34 billion rupees ($825 million) at the upper end of the price band.

The Bharti Infratel management will decide and formally announce the IPO price band on Friday, the sources, who declined to be named, told Reuters.

A Bharti Group spokesman was not immediately available for a comment. ($1 = 54.9275 Indian rupees) (Reporting by Sumeet Chatterjee; Editing by Elaine Hardcastle)