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Bharti Infratel IPO is a book build issue of ₹4,172.76 crores. The issue is a combination of fresh issue of 14.62 crore shares aggregating to ₹3,230.28 crores and offer for sale of 4.27 crore shares aggregating to ₹942.48 crores.
Bharti Infratel IPO bidding started from Dec 11, 2012 and ended on Dec 14, 2012. The shares got listed on BSE, NSE on Dec 28, 2012.
Bharti Infratel IPO price band is set at ₹220.00 per share . The lot size for an application is 50. The minimum amount of investment required by an retail is ₹10,500 (50 shares). The lot size investment for sNII is 19 lots (950 shares), amounting to ₹2,09,000, and for bNII, it is 91 lots (4,550 shares), amounting to ₹10,01,000.
Barclays Securities (India) Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Bharti Infratel IPO RHP for detailed Information.
| IPO Date | December 11, 2012 to December 14, 2012 |
| Listing Date | December 28, 2012 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹210 to ₹240 per share |
| Issue Price Final | ₹220 per share |
| Lot Size | 50 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 18,89,00,000 shares (aggregating up to ₹4,172.76 Cr) |
| Fresh Issue | 14,62,34,112 shares (aggregating up to ₹3,230.28 Cr) |
| Offer for Sale | 4,26,65,888 shares of ₹10 (aggregating up to ₹942.48 Cr) |
| Retail Discount | Rs 10.00 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,74,24,08,730 shares |
| Share Holding Post Issue | 1,88,86,42,842 shares |
Bharti Infratel IPO offers total 18,89,00,000 shares. Out of which 9,44,50,000 (50.00%) allocated to QIB, 6,61,15,000 (35.00%) allocated to QIB, 2,83,35,000 (15.00%) allocated to NII, 6,61,15,000 (35.00%) allocated to RII and 2,83,35,000 (15.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 9,44,50,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 2,83,35,000 (15.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 6,61,15,000 (35.00%) | NA |
| NII (HNI) Shares Offered | 2,83,35,000 (15.00%) | NA |
| Retail Shares Offered | 6,61,15,000 (35.00%) | 13,22,300 |
| Total Shares Offered | 18,89,00,000 (100.00%) |
Bharti Infratel IPO opens on December 11, 2012, and closes on December 14, 2012.
| IPO Open Date | Tue, Dec 11, 2012 |
| IPO Close Date | Fri, Dec 14, 2012 |
| Tentative Listing Date | Fri, Dec 28, 2012 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 14, 2012 |
Investors can bid for a minimum of 50 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹11,000 |
| Retail (Max) | 18 | 900 | ₹1,98,000 |
| S-HNI (Min) | 19 | 950 | ₹2,09,000 |
| S-HNI (Max) | 90 | 4,500 | ₹9,90,000 |
| B-HNI (Min) | 91 | 4,550 | ₹10,01,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2006, Bharti Infratel Limited is a provider of tower and related infrastructure. Bharti Infratel is one of the world's largest telecom tower infrastructure providers which deploys, owns and manages telecom towers and communication structures for all wireless operators. The business of Bharti Infratel and Indus is to acquire, build, own and operate tower and related infrastructure.
Bharti Infratel and Indus currently provide access to their towers primarily to wireless telecommunications service providers. Bharti Infratel's and Indus's three largest customers are Bharti Airtel (together with Bharti Hexacom), Vodafone India and Idea Cellular. They are the three leading wireless telecommunications service providers in India by wireless revenue.
In India, Infratel has over 34,000+ towers, across 18 states, and 11 Telecom circles, and still growing. Bharti Infratel also has a 42% stake in Indus Towers which was created as a Joint Venture between Bharti Infratel, Vodafone and Aditya Birla Telecom to hive off the Towers business in 15 telecom circles.
| Particulars | For the year/period ended (in Rs. Million) | |||||
| 30-Sep-12 | 31-Mar-12 | 31-Mar-11 | 31-Mar-10 | 31-Mar-09 | 31-Mar-08 | |
| Total Income | 50,908.9 | 95,970.6 | 86,257.9 | 71,288.4 | 51,772.7 | 7,057.0 |
| Profit After Tax (PAT) | 4,604.6 | 7,507.3 | 5,514.8 | 2,529.7 | 1,952.4 | 403.7 |
The Company Bharti Infratel IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Installation of 4,813 new towers | 1,086.56 |
| 2 | Upgradation and replacement on existing towers | 1,214.08 |
| 3 | Green initiatives at tower sites | 639.36 |
| 4 | General corporate purposes | 204.64 |
[Dilip Davda] <p>On BIL's performance part, for last three fiscals it has posted an average EPS of Rs. 3.46. For H1 of current fiscal it has posted annualized EPS of Rs. 5.28 and its NAV stands at Rs. 82.10 (on consolidated basis). These earnings give EPS of Rs. 4.89 on fully diluted equity. Thus the asking price is at a P/E of 43 to 49 on lower-upper price band and looks very aggressive. As per company, they have no listed peers to compare this. It has issued bonus shares in the ratio of 9999 for 1 in August 2008 and 2 for 1 in August 2012. Shares issued to private equity players at Rs. 788.56 in March 2010 got adjusted to Rs. 262.85 post bonus and thus they are exiting at a discount to their acquisition cost and are raising doubt on likely future of BIL. <strong><span style="text-decoration: underline;">Considering higher asking price, it is better to buy at discount post listing. Application in this IPO with loan fund is not at all advisable.</span></strong></p> Read detail review...
CRISIL has assigned a IPO Grade 4/5 to the IPO of Bharti Infratel. This grade indicates that the fundamentals of the Bharti Infratel IPO are 'above average' relative to the other listed equity securities in India. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Please note that this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The grade is not a recommendation to buy, sell or hold the graded instrument, or a comment on the graded instrument's future market price or its suitability for a particular investor.
Read Bharti Infratel IPO Grading Report
The promoter of Bharti Infratel has offered Rs 10 discount to retail investors in Bharti Infratel IPO shares. The discount will be given on the final price of the IPO shares.
| Listing Date | December 28, 2012 |
| BSE Script Code | 534816 |
| NSE Symbol | INDUSTOWER |
| ISIN | INE121J01017 |
| Final Issue Price | ₹220 per share |
| BSE Listing Group | B |
Bharti Infratel Ltd.
Bharti Crescent, 1 Nelson Mandela Road,
Vasant Kunj, Phase-II,
New Delhi 110 070
New Delhi, New Delhi
Phone: +91 11 4666 6100
Email: compliance.officer@bharti-infratel.in
Website: http://www.bharti-infratel.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
Bharti Infratel IPO is a main-board IPO of 18,89,00,000 equity shares of the face value of ₹10 aggregating up to ₹4,172.76 Crores. The issue is priced at ₹220 per share. The minimum order quantity is 50.
The IPO opens on December 11, 2012, and closes on December 14, 2012.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Bharti Infratel IPO using UPI as a payment gateway. Zerodha customers can apply in Bharti Infratel IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bharti Infratel IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bharti Infratel IPO opens on December 11, 2012 and closes on December 14, 2012.
Bharti Infratel IPO lot size is 50, and the minimum amount required for application is ₹11,000.
You can apply in Bharti Infratel IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bharti Infratel IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Bharti Infratel IPO allotment status.
The Bharti Infratel IPO listing date is on Friday, December 28, 2012.
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