The initial public offering (IPO) of Bharti Tele-Ventures will open on Monday with 18.53 crore equity shares on offer.
The floor price of Rs 45 a share is the minimum price at which bids can be made by all three categories of investors - qualified institutional bodies (QIBs), non-institutional and retail.
The company will have 200 bidding centres in all the 20 cities that have a stock exchange in order to accept bids from the investors. The country's first ever 100 per cent book building IPO will remain open for six days up to February 2.
Bharti Tele-Ventures has reserved 25 per cent of the total offer of 18.53 crore shares for the retail investors applying for 100 equity shares and in multiples of 100 shares up to a maximum of 1,000 shares.
Balance 60 per cent will be reserved for QIBs and balance 15 per cent for non-institutional and high net worth individuals, the company said in a statement.
It would be mandatory for investor to have at least one beneficiary account with any of the depository participant of NSDL or CSDL prior to making the bid. All bidders would have to bid for at least the minimum numbers of shares as per the classification and in multiples of Re 1 above the floor price of Rs 45 and above.
Retail investors applying for up to 1,000 share also have an option of bidding at 'cut off', which means the investor willing to buy at the final price determined by the lead manager/company at the conclusion of the book-building process.
As of November 30, 2001, the existing foreign share holding in Bharti Televentures was 46.3 per cent of issued capital and this would constitute approximately 41.7 per cent of the post-issue capital, thus 13.51 crore shares constituting about 73 per cent of the present issue is available for allocation to non-resident Indians, overseas corporate bodies and foreign institutional investors and other foreign investors.
The equity shares are proposed to be listed on Delhi, Mumbai and National stock exchanges.
