Bharti Infratel pulls off IPO despite muted bid

04 Jan 2013

Indian telecommunications tower company Bharti Infratel successfully priced its IPO at the end of 2012, relying on institutional demand after retail investors largely shunned the deal.

The bookrunners were able to push the deal through with demand from foreign investors, which made up for a lack of orders from domestic retail and institutional investors. But the overall deal was still only oversubscribed by 30%, well below the coverage level of recent Indian listings.

Retail investors ...

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