The biggest Indian IPO in two years got off to a fizzle in its trading debut on Friday, with shares in Bharti Infratel down around 13.5 per cent at 190 rupees at time of writing. The offer price was 220 rupees. Read more
India’s biggest initial public offering for two years has proved to be a modest success, with Bharti Infratel raising around $764m from the sale of 189m shares that closed on Friday.
At Rs210 ($3.83) a share for retail investors and Rs220 for investment funds, the pricing of the company – which operates telecoms towers for Bharti Airtel, India’s largest mobile phone provider – fell at the lower end of the Rs210-240 indicative range. Read more
Tuesday will see one of India’s largest IPOs for years, as Bharti Infratel, the telecoms tower arm of Bharti Airtel, seeks to raise $715m.
With regulatory flip-flop reducing confidence in a debt-mired telecoms industry and the Indian government relaunching its privatisation programme to reduce the budget deficit, all eyes are on tomorrow’s IPO as a measure of market sentiment. Read more