Linklaters and Amarchand & Mangaldas & Suresh A. Shroff & Co. have advised Indian telecommunication infrastructure company Bharti Infratel Ltd. on a $760 million initial public offering, India’s largest in two years.
Proceeds from the listing on the Bombay Stock Exchange will be used to upgrade and replace existing towers, install new towers, and implement green initiatives.
Bharti Infratel is a subsidiary of India’s largest wireless operator, New Delhi-based Bharti Airtel.
Amarchand Mumbai partner Yash Ashar led his firm’s work on the offering. Linklaters Singapore partner Arun Balasubramanian acted as the international counsel to Bharti Infratel.
The underwriters—Barclays Securities (India) Pte. Ltd., Deutsche Equities India Pte. Ltd., Enam Securities Pte. Ltd., HSBC Securities and Capital Markets (India) Pte. Ltd., Kotak Mahindra Capital Co. Ltd., BNP Paribas, DBS Bank Ltd., HDFC Bank Ltd. and ICICI Securities Ltd.—were advised by Milbank, Tweed, Hadley & McCloy partners Anthony Root in Hong Kong and Naomi Ishikawa in Singapore.
Luthra & Luthra also advised the underwriters with a team led by partner Madhurima Mukherjee in New Delhi.