Cellco Bharti Airtel is not looking to list its telecom tower unit, Bharti Infratel, in the immediate future, Akhil Gupta, deputy group chief executive and managing director of Bharti Enterprises, was quoted saying.
He reportedly added that Indus Towers,…
Cellco Bharti Airtel is not looking to list its telecom tower unit, Bharti Infratel, in the immediate future, Akhil Gupta, deputy group chief executive and managing director of Bharti Enterprises, was quoted saying.
He reportedly added that Indus Towers, a JV between Infratel (42%), Vodafone and Idea Cellular, would not be listed soon either. Indus is the largest Indian tower company with about 100,000 towers.
Back in November, Bharti Infratel CFO Manik Jhangiani told investors during the company’s second quarter results that it was considering listing Infratel but added, at the time, that there were no definite plans.
This report comes a few days after Indian independent towers operator Viom Networks said it was now looking to raise Rs45bn (US$1bn) rather than the initial Rs50-60bn (US$1.5bn) it was seeking from an upcoming IPO, according to a source cited by Dow Jones. The transaction would reportedly take place between April and September.
Last year, the company hired five banks – Citigroup, Credit Suisse, Goldman Sachs, IDFC Capital and Morgan Stanley – to arrange the share sale.
