Bharti Infratel may come up with IPO

Bharti Airtel's mobile phone tower unit Bharti Infratel Limited has filed a draft prospectus with the capital markets regulator for an Initial Public Offering that aims to raise nearly $1 billion

Bharti Infratel is a leading telecom passive infrastructures provider company in India. The issue constitutes a fresh issue of equity shares by Bharti Infratel and an offer for sale (OFS) portion by Compassvale Investments Pte Ltd, GS Strategic Investments Limited, Anadale Limited and Nomura Asia Investment (IB) Pte. Ltd," according to a release sent to exchanges.

Bharti Airtel said the committee of directors of the company has decided not to participate in the offer for sale of equity shares in the proposed issue of its subsidiary.