Bharti Infratel, a wholly owned subsidiary of Bharti Airtel, has agreed to divest around 8-10% stake to leading international investors for $1 billion (Rs 4,000 crore). Bharti Infratel owns close to 20,000 tower sites in seven circles, and holds approximately 42% stake in Indus Towers, the recently announced joint venture between Bharti, Vodafone and Idea, which has over 70,000 sites. As part of the joint venture, Bharti Infratel had transferred 30,000 towers in 16 circles to Indus recently. Indus plans to scale up to 20,000 towers in the next two-three years.
Valuation of tower companies have been going through the roof with Indus Towers valued at around Rs 1,50,000 crore and controlling over 70,000 towers. Reliance Communications was able to divest 5% equity stake in its tower company to seven investors for Rs 1,400 crore giving it an enterprise value of Rs 27,000 crore. The company controlled over 13,000 towers when the deal was announced.
The enterprise valuation of Bharti Infratel has been agreed to be in the range of $10-12.5 billion (Rs 40,000-50,000 crore) but the final valuation will be determined on the basis of Bharti Infratel's actual operating performance in FY 2008-09.
Valuation of tower companies have been going through the roof with Indus Towers valued at around Rs 1,50,000 crore and controlling over 70,000 towers. Reliance Communications was able to divest 5% equity stake in its tower company to seven investors for Rs 1,400 crore giving it an enterprise value of Rs 27,000 crore. The company controlled over 13,000 towers when the deal was announced.
The enterprise valuation of Bharti Infratel has been agreed to be in the range of $10-12.5 billion (Rs 40,000-50,000 crore) but the final valuation will be determined on the basis of Bharti Infratel's actual operating performance in FY 2008-09.
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