Bharti Airtel's tower arm Bharti Infratel will be listed on bourses in the long run, but it has no immediate plans in this regard, a senior official of the group said here today.
"In long run these companies [Bharti Infratel] should get listed. Right now, there is no immediate plan. Lots of work need to be done in one-year time," Bharti Enterprises Deputy Group Chief Executive and Managing Director Akhil Gupta said when reporters asked about the status of listing of the tower company.
The listing will definitely not happen this fiscal year, Gupta added.
Bharti Infratel was created by Bharti Group in July 2007 as an independent tower company to rent out Airtel's towers to other telecom service providers.
In India, Bharti Infratel has over 30,000 towers across 18 states and 11 telecom circles. It also has a 42% stake in Indus Towers which was created as a joint venture between Bharti Infratel, Vodafone and Idea to hive off the towers business in 12 circles.