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Bharti Airtel Ltd Files IPO papers To Divest 10%-The Economic Times


Saturday, 15 Sep 2012 08:00pm EDT 

The Economic Times reported that Bharti Airtel Ltd has filed papers for an initial public offering to raise about 5,000 crore. According to papers filed with market regulator Sebi, Bharti Airtel plans to dilute 10% equity through the proposed share issue. The Company plans to sell 188.9 million shares, which will include fresh issue of 146.23 million shares and sale of 42.67 million shares by four private equity investors, namely, Temasek Holding, Goldman Sachs, Anadale and Nomura. Bharti Infratel would retain a little over three-fourths of the issue proceeds while one-fourth will be distributed among the PEs. Bharti Airtel, which currently owns 86.09% stake in the tower arm, will not participate in the equity sale, the Company said in a statement. After the completion of the IPO, Bharti Airtel's holding will come down to 79.42% while PE firms will own 10.58% shares in Bharti Infratel, down from 13.91%.