Bharti’s Infratel plans $500mn IPO- sources

The tower arm of India’s Bharti Airtel plans an initial public offering to raise at least $500 million and is expected to file regulatory papers in September or October,sources with direct knowledge of the matter said on Friday.

Bharti Infratel,which has more than 30,000 towers,also holds a 42 percent stake in joint venture tower company Indus Towers,which is the world’s top telecoms tower firm with more than 110,000 towers.

“Standard Chartered and Morgan Stanley are among the frontrunners to help manage the initial public offering,” three of the sources said.