Briefly Business: Bharti Infratel IPO on Dec 10, details to be out today

Bharti Infratel IPO on Dec 10, details to be out today

Mumbai: Bharti Infratel, the tower arm of Bharti Airtel, has received the regulatory approval for its proposed IPO, which is likely to hit the market on December 10, industry sources said. The details of the IPO will be announced on Friday. The company is likely to raise around Rs 5,000 crore from the offering. The IPO will be one of the biggest after Coal India raised Rs 15,475 crore in October 2010.

Disinvestment secy may get extension

New Delhi: With a slew of stake sales planned in the coming months as well as preparations for Budget 2013-14, disinvestment secretary Mohammad Haleem Khan is likely to get an extension by a few months. Khan, a 1977 batch IAS officer of the Uttar Pradesh cadre, is set to superannuate from service at the end of the month.

'ONGC's Kashagan stake to raise debt'

Mumbai: Moody's has said ONGC's acquisition of ConocoPhillips' 8.4 per cent stake in Kashagan oilfield will be 'credit negative' as the firm's debt will rise by $5 billion.

REC's R4,500 cr bond issue to open on Dec 3

Ahmedabad: Rural Electrification Corporation (REC) on Thursday said its public issue of tax-free bonds aimed at raising up to Rs 4,500 crore will open for subscription on December 3. The issue will close on December 10.

Meeting of EGoM on Telecom deferred

New Delhi: The meeting of EGoM on telecom to discuss the roadmap for spectrum unsold in the recent auction has been deferred as the key ministers are engaged in Parliament, sources said.

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