Directors working on details to list tower business: Bharti Enterprises

NEW DELHI: Bharti Enterprises today said a committee of directors is looking at the details of the listing of its telecom towers unit Bharti Infratel but did not give a timeline for the initial public offer.

It said, however, the draft prospectus could be filed this fiscal if the committee finalises the modalities.

"We have formed a committee of directors that is looking into all the aspects, timing and quantum and so on...but I really don't know the exact time. But it should be soon," Bharti Enterprises Deputy Group CEO and Managing Director Akhil Gupta told reporters here.

He was speaking on the sidelines of a Green Energy India 2012 conference.

On whether the company will file the draft prospectus for the IPO this fiscal, Gupta said the decision will be taken by the committee.

"If the committee decides than certainly that would be filed this year," he added.

Bharti Infratel has more than 33,000 towers in operation. Other players in the tower business include Anil Ambani- led Reliance Infratel and Viom Networks - a joint venture between Tata Teleservices and Kolkata-based Quippo Infrastructure.

So far, none of the tower companies is listed in India, although Reliance Infratel had plans to do so.