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Bharti Infratel’s Rs 4,500-crore initial public offer, tipped as the second biggest public issue in two years, was subscribed 35 per cent on the second day of the issue today.
The telecom tower company’s IPO received bids for 5.59 crore shares against 18.89 crore equity shares on offer, according to stock exchanges data till 1700 hours.
The Qualified Institutional Buyers (QIBs) category was subscribed 44 per cent, while shares reserved for retail investors received 2 per cent subscription.
Shares in the institutional slot had not attracted any interest so far, the data showed.
The issue, which will close on December 14, is in the price band of Rs 210—240 per share.
At the upper end of the price band, Bharti Infratel would raise about Rs 4,533.60 crore, while at the lower end it could end up with Rs 3,966.90 crore.
The equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.
Bharti Airtel, which owns about 86 per cent of Bharti Infratel, is not participating in the share sale.
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