Bharti Infratel Limited Initial Public Offer - Bid/Issue opens on December 11, 2012

Price Band fixed between Rs. 210 and Rs. 240 per Equity Share

Retail discount of Rs. 10 per Equity Share

November 30, 2012: Bharti Infratel Limited, the telecommunications tower unit of top phone carrier  Bharti Airtel Ltd, is set to raise up to $825 million next month in what would be the country's biggest initial share offering in two years.

The company proposing an initial public offer of 188,900,000 equity shares of face value of Rs. 10 each (“Equity Shares”) for cash at a price to be determined through a 100% Book Building Process (the “ISSUE”) 

The Price Band has been fixed between Rs. 210 and Rs. 240 per Equity Share. The Retail Discount decided on per share basis is Rs. 10 per Equity Share. Bids can be made for a minimum of 50 Equity Shares and in multiples of 50 Equity Shares thereafter.

The Issue opens for subscription on Tuesday, December 11, 2012, and will close on Friday, December 14, 2012 for Non Institutional Bidders and Retail Individual Investors and on Thursday, December 13, 2012 for QIB Bidders. The Anchor Investor Bid/Issue Period shall be one working day prior to the Bid/Issue opening date.

The Issue comprises of a fresh issue of 146,234,112 Equity Shares by the Company (the “FRESH ISSUE”) and an offer for sale of 42,665,888 Equity Shares by certain shareholders (the “OFFER FOR SALE”). The Issue will constitute 10% of the post-issue paid up Equity Share capital of the Company.

The Issue has been assigned a 4/5 grading by CRISIL Limited indicating that the fundamentals of the Issue are above average relative to other listed equity securities in India. The IPO grade is assigned on a five point scale from 1 to 5 with IPO grade 5/5 indicating strong fundamentals and IPO grade 1/5 indicating poor fundamentals. For details, please see the section “General Information” on page 80 of the RHP.

Not more than 50% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”). 5% of the QIB Portion, excluding the Anchor Investor Portion, shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price.

Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. QIBs, other than Anchor Investors, and Non Institutional Bidders shall participate in this Issue only through the ASBA process by providing the details of the bank accounts which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to the extent of the Bid Amount. Retail Individual Bidders can participate in the Issue through the ASBA process as well as the non-ASBA process.

The Joint Book Running Lead Managers (“JGCBRLMs”) to the Issue are DSP Merrill Lynch Limited, J.P. Morgan India Private Limited, Standard Chartered Securities (India) Limited and UBS Securities India Private Limited. The Book Running Lead Managers (“BRLMs”) to the Issue are Barclays Securities (India) Private Limited, Deutsche Equities India Private Limited, Enam Securities Private Limited, HSBC Securities and Capital Markets (India) Private Limited and Kotak Mahindra Capital Company Limited. The Co-Book Running Lead Managers to the Issue are BNP Paribas, DBS Bank Ltd., HDFC Bank Limited and ICICI Securities Limited.

The Equity Shares offered through the Issue are proposed to be listed on the National Stock Exchange of India Limited and the BSE Limited.  NSE is the Designated Stock Exchange for the Issue.

Disclaimer:

Bharti Infratel Limited is proposing, subject to market conditions and other considerations, an initial public offer of its equity shares and has filed a Red Herring Prospectus ("RHP") with the RoC. The RHP is available on the website of SEBI at www.sebi.gov.in, on the respective websites of the Joint Global Coordinators and Book Running Lead Managers at www.dspml.com, www.jpmipl.com, www.standardcharteredsecurities.co.in and www.ubs.com/indianoffers; on the respective websites of the Book Running Lead Managers at www.barcap.in/bsiplofferingdocuments, www.db.com/India, www.enam.com, www.hsbc.co.in/1/2/corporate/equities-globalinvestment-banking and www.investmentbank.kotak.com; and on the respective websites of the Co-Book Running Lead Managers at www.bnpparibas.co.in, www.dbs.com/in, www.hdfcbank.com and www.icicisecurities.com.

 Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled 'Risk Factors' on page 17 of the RHP. This announcement is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia).This announcement does not constitute an offer or solicitation to purchase or subscribe for securities for sale in any jurisdiction other than India, including the United States (including its territories and possessions, any state of the United States and the District of Columbia). Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. The Company has not and does not intend to register any securities under the U.S. Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. The Company will not be registered under the U.S. Investment Company Act of 1940, as amended, and investors will not be entitled to the benefits of that Act.