India's Telecom Firm Plans an IPO

State-owned telecom firm Bharat Sanchar Nigam Ltd (BSNL), which has been valued at over $100 billion, is considering an IPO to dilute up to 10 per cent of its equity to fund expansion plans. BSNL plans to raise about $10 billion through its initial public offer, which is expected to come out in a year's time. "Up to 10 per cent dilution will be made that will raise about $10 billion," said S.D. Saxena, Director of Finance, BSNL.
The market valuation of the telecom giant is about $100 billion, he added. Talking about the size of the IPO, Saxena said, "$10 billion can be a good size to test the market that will set the benchmark for going global." The IPO will take a year's time and the process will be initiated in 2-3 month's time. "The government will take the final call as this is a state-owned company," Saxena said.
tag: VoIP business, Telecom, BSNL, Bharat Sanchar Nigam Ltd, BSNL IPO,