The IPO, tipped as the second biggest public issue in the last two years, attracted bids for over 19.42 crore shares
The Rs 4,500-crore initial public offer of Bharti Infratel was fully subscribed a day ahead of its closure.
The IPO, tipped as the second biggest public issue in the last two years, attracted bids for over 19.42 crore shares -- of the 18.89 crore equity shares offered in the main book building process -- translating to 1.21 time subscription, as per stock exchange data.
The Qualified Institutional Buyers (QIBs) book, which closed today, got over-subscribed 2 times, while shares reserved for retail investors got 3 per cent subscription.
Shares reserved for institutional investors got subscribed 9 per cent, the data showed.
The issue is in the price band of Rs 210-240 a share and closes tomorrow for retail investors.
At the upper end of the price band, Bharti Infratel would raise about Rs 4,533.60 crore, while at the lower end it could end up with Rs 3,966.90 crore.
The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
Bharti Airtel, which owns about 86 per cent of Bharti Infratel, is not participating in the share sale.
The Sunil Bharti Mittal led—company’s IPO is the biggest from public issue, after state—run Coal India’s issue in October 2010.
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via The Hindu Newspaper http://www.thehindu.com/business/companies/bharti-infratels-rs-4500-cr-ipo-oversubscribed/article4196084.ece
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