Business Services Industry
INDIA: BHARTI TELE-VENTURES SHARES LISTED.(Brief Article)(Statistical Data Included)
IPR Strategic Business Information Database, February, 2002
Bharti Tele-Ventures Ltd, the Indian mobile phone company, was the first mobile phone company to go public in India. The company's trading debut yesterday was uneven. In the first hour of trading Bharti Tele-Ventures' shares rose to 55 Rupees (US$1.13), reflecting a rise by 22% from their initial public offering (IPO) price of 45 rupees (US$0.92).
However, the shares closed at 44.14 rupees (US$0.9), reflecting a fall by 1.9% from the IPO price, according to the Total Telecom. Bharti Tele-Ventures raised 8.34 billion rupees (US$171.4 million) through its IPO of 185.3 million shares, equivalent to 10% of the company. Bharti Tele-Ventures is part of Bharti Enterprises, a leading telecom conglomerate in India. -(EMEconomy.com)
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