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May 31, 2001 		Feedback  
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Bharti to list Bharti Televentures in October

Unlisted telecom group Bharti Enterprises is planning a domestic listing of one of its main holding companies Bharti Televentures in October, its chairman said on Thursday.

Bharti Televentures controls various service companies of the New Delhi-based Bharti group, one of India's biggest private telecom groups.

"July is too close. August is out as foreign investors go to sleep. The IPO should happen around October," Sunil Bharti Mittal said in an interview.

Bharti had said earlier this month it planned to raise $200 million from the IPO and would use the money to fund its ambitious expansion plans. Mittal and his family own a 54 percent stake in the company which will fall to 51 percent after the IPO.

The group's operations span mobile and fixed-line telephony to manufacturing telephone handsets and a nationwide optic fibre network. The group recorded sales of Rs 13 billion in 2000-01 (April-March) and generated cash worth a Rs 1 billion after providing for past losses.

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