Bharti Infratel lists at a discount to IPO price

Shares of Bharti Infratel, an associate company of Bharti Airtel, India's largest telecom company got listed on the bourses today. The stock was last trading at Rs 196 on the BSE, against the IPO price of Rs 210 for retail investors and Rs 220 for high networth individuals.

The two IPOs of CARE and P C Jeweller both listed with gains and have given decent returns to investors.

The sale had offered 88.9 million shares, and raised Rs 4,118.01 crore, including about Rs 1,388 crore from retail investors and Rs 2,078 crore from other investors such as QIBs and HNIs.

Bharti Infratel was one of the largest IPOs in the largest two years, after the IPO of Coal India two years ago.

State owned Coal India had raised about 15,000 crores in October 2010. The IPO of Bhrati Infratel was subscribed 1.3 times.

Meanwhile, the shares of Bhrati Airtel were trading marginally lower by 1.21%.

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