Bharti Airtel is looking again at listing its tower arm, Bharti Infratel. This would provide a new source of financing and an exit option to private equity firms, which have invested USD 1.25 billion in the tower company, reports The Economic Times. The company started working on the draft prospectus and expects to file it with market regulator Sebi by the end of August or early September. It is likely to list by the end of the year and to raise INR 40-45 billion, depending on regulatory approval and market sentiment, said a person directly involved in the process. Bharti Infratel has invited global investment banks for presentations and expects to finalise the names of its merchant bankers soon, said an official familiar with the development. The proposed IPO is likely to comprise an offer for sale by the existing shareholders, including Airtel and the PE firms.
