Bharti Airtel's telecom tower unit Bharti Infratel will launch an initial offer to the public of its stock to raise up to Rs. 4,533.60 crore.
The Sunil Mittal-controlled company said the Initial Public Offer (IPO) comprising 188.9 million equity shares will open on December 11 for retail investors in a price band of Rs. 210 to Rs. 240 per share, and close on December 14. For anchor investors, the issue will open on December 10.
This will possibly be the biggest IPO after the Rs. 15,000-crore Coal India Limited offering in 2010.
The company said the IPO proceeds will be used to fund its expansion and future acquisitions. Bharti Infratel has more than 34,000 towers in operation, while it holds a 42% stake in Indus Towers, which has over 100,000 towers in India.