Bharti group might list Bharti Teletech on the stock market
March 21st, 2007 Leave a comment Visited 37 times, 2 so far today
Bharti group might list Bharti Teletech on the stock market
Indian telecom giant Bharti Group has said that they are considering the possibility of listing their telecom equipment company Bharti Teletech on the stock exchange.
The company however said that they are not going to list any of their other companies involved in retail, agriculture and finance businesses for at least five years.
Bharti group chairman and managing director Sunil Mittal was quoted as saying: “We will not go public for any of the businesses till they mature. The only company, which may be a candidate for an IPO in the near future, is Bharti Teletech.”
The company has already announced plans to invest more than USD 22 billion in the next couple of years. They have huge expansion plans for their telecom venture as they face upcoming competition from Vodafone in the Indian market.
Mittal added: “We are virtually a debt-free company and therefore bringing investment is not a problem at all. As far as the public issue is concerned, I feel it’s my job to put risk capital first and once the risk is diminished or in some cases eliminated, we can go to the capital market.”
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August 26th, 2008 at 5:34 pm
You may have some information about how Bharati Teletech has treated its minority shareholders. In June 2008, a company called Jasmine Projects Pvt Ltd sent warrant to the minority shareholders of Bharati Teletech on a consideration of Rs 304 per share informint them that Bharato Teletech was amalgamated with the incumbent. Shareholders like Ashok C Samani, member of BSE and NSE did not have any clue about this decision. Now what about the listing of Bharati Teletech.
July 27th, 2009 at 2:31 pm
bharti teletech is not amalgamted with jasmine project
and consideration of rs 304 was paid for non core business like real estate etc which was taken over by jasmine project. Those who are holding shares of Bharti Teletech will remain the share holders .