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Construction : Deals | December 2012 | Source : Construction Update

Bharti Infratel looks for acquisitions in India, overseas

Telecommunications tower company Bharti Infratel has stated that it is looking at acquisition opportunities in India and overseas. Bharti Infratel's Rs 4,500-crore IPO is opening on December 11. The company, which is the tower unit of telecom major Bharti Airtel, is set to launch its initial public offering (IPO) on December 11 to raise up to Rs 4,533.60 crore.

The company will be looking at any acquisition opportunities which comes its way, Bharti Infratel Chairman Rakesh Bharti Mittal told the media on the sidelines of a roadshow for its IPO. The IPO comprises 188.9 million equity shares and would open for retail investors in a price band of Rs 210 to Rs 240 per share. The issue will close on December 14.

Bharti Infratel CEO DS Rawat said that the proceeds from the IPO would be used to fund expansion plans as well as future acquisitions.

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