Bharti may list Infratel

NEW DELHI: After transferring about 29,400 towers to the newly formed infrastructure giant – Indus Towers – Bharti is also looking at the possibility of divesting stake or listing its hived off tower arm Bharti Infratel, which will still be left with about 20,000 towers in seven circles following the creation of Indus Towers. While Bharti Infratel has transferred its passive infrastructure in 16 circles to Indus Towers, a joint venture between Bharti Airtel, Vodafone Essar and Idea Cellular, it has retained its towers in seven circles.

And so, while Indus Towers will become India’s (and the world’s) largest independent tower company with around 70,000 towers, Bharti Infratel will be the second largest tower company in the country. The seven circles where Infratel will now operate are J & K , Orissa, Bihar, Assam, North East, HP and MP. “

Even after the formation of Indus Towers, Bharti Infratel will continue to be run as an independent tower company. We may look at listing Infratel too, or even divesting a substantial stake in the company,” Bharti Airtel’s joint MD Akhil Gupta told ET. Infratel is set to expand its infrastructure assets to about 30,000 units by March 2007.