Bharti Infratel spends Rs 2,613.23 cr from public issue

Bharti Infratel today said it has spent Rs 2,613.23 crore till March 31, 2016, of the Rs 3,165.67 crore raised through fresh issue of shares during the initial public offer (IPO) in 2012.
The company had come out with an IPO with an issue size of Rs 4,172.76 crore and the amount collected was Rs 3,165.67 crore, which represents proceeds of fresh issue net of company's share of share issue expenses.
The company said it has till March 31, 2016 utilised Rs 606.15 crore for installation of 4,813 new towers, Rs 1,536.37 crore for upgradation and replacement on existing towers, Rs 245.04 crore for green initiatives at tower sites and Rs 225.67 crore for general corporate purposes.

During the last six months, it has spent Rs 474.87 crore.
The remaining amount from the fresh issue has been invested in various instruements.