Telecom major, Bharti Airtel to fund its expansion is planning to list its tower unit, Bharti Infratel, by selling 10 per cent stake, to raise around Rs 4,500 crore. The company giving an exit option to the private equity firm is mulling for the Initial Public Offer (IPO) of its subsidiary. Further, Bharti Infratel has informally appointed Standard Chartered Bank and Morgan Stanley as merchant bankers and is also in discussion with two other investment banks.
Bharti Infratel deploys, owns and manages passive infrastructure in 11 telecom circles in India. It also holds 42 per cent share in Indus Towers (a joint venture between Bharti, Vodafone and Idea).
