Abhishek Securities

Telecom tower company Bharti Infratel, on Monday, reported a 12% rise in quarterly profit at Rs 277 crore on increase in sales from leasing mobile towers to service providers. In the corresponding quarter (July-September) last fiscal year, the company reported a profit of Rs 248 crore.     Bharti Infratel, which is majority owned by Bharti Airtel, reported revenue for the quarter at Rs 2,684 crore, a 5% increase as compared to Rs 2,556 crore for the same period last year, the company said in a statement.   “With regulatory environment in telecom sector showing signs of stabilizing and data revenues witnessing strong growth, the operators have started focusing on faster roll out of 3G networks. We expect this momentum to increase in coming quarters,” Bharti Infratel vice chairman and MD Akhil Gupta said.   Bharti Infratel’s business model remains robust and demonstrates significant incremental financial gains from increased sharing of its infrastructure,...

B harti Infratel, the telecommunications tower arm of top Indian mobile phone carrier Bharti Airtel  , is likely to launch on December 10 its up to USD900 million initial public offering, three sources with direct knowledge said. The share sale could raise USD800 million to USD900 million, the sources said. Bharti Infratel and four private equity investors are selling shares in the offer. A Bharti spokesman declined to comment. Bharti Infratel expects to get a go ahead from the capital markets regulator as early as Friday, the sources said. All three sources declined to be named as the information is not public yet. Bharti Infratel expects a go-ahead from the capital markets regulator as early as Friday, the sources said, adding the IPO would open for cornerstone investors on December 10 and for the public a day later. Bharti Infratel will sell new shares in the IPO, which will be a key test for overseas investors' appetite in a market that has risen nearly...