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Sunday, Feb 03, 2002

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Bharti Tele IPO oversubscribed

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MUMBAI, Feb. 2

THE IPO of Bharti Televentures Ltd (BTVL) has been oversubscribed by 2.53 times. The company received bids for 46.9 crore shares compared to actual book size of 18.53 crore shares, according to sources close to merchant bankers. The issue price would be disclosed tomorrow.

BTVL IPO opened on January 28, 2002 and closed today. The floor price of the issue was fixed at Rs 45 per share for the Rs 10 face-value share.

"Final price would be disclosed tomorrow after receiving the bid price from various cities,'' an official with one of the merchant bankers said.

There has been large participation from the global funds including India dedicated and sector funds. But most of the investors were from the Asia region. There has also been retail participation in the issue.

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