FTSE global equity indices to include Bharti Infratel shares
Telecom tower infrastructure services provider Bharti Infratel on Thursday said it will be included in the FTSE Global Equity Indices starting January 7.
New Delhi: Telecom tower infrastructure services provider Bharti Infratel on Thursday said it will be included in the FTSE Global Equity Indices starting January 7.
"Bharti Infratel will be added to FTSE All-World Index (Large Cap) with a investability weighting of 9 percent and will also be added to FTSE All-Emerging Index," the company said in a statement.
The listing on FTSE follows the company's Initial public offering of 188,900,000 equity shares and its listing on the National Stock Exchange and Bombay Stock Exchange in India.
Shares of Bharti Infratel, which raised over Rs 4,118 crore in the biggest IPO in two years, had made a weak debut on the bourses on December 28, falling by nearly 11 percent over its issue price of Rs 220 per share.
After the disappointing debut on the bourses, the stock has witnessed a rebound on the last four days and witnessed an all-time high of Rs 204.30 on the BSE, largely due to reports about inclusion in FTSE indices.
The FTSE All-World index is used by investors worldwide to structure and benchmark their international equity portfolios.
The FTSE global equity universe covers over 7,400 securities in 47 different countries and captures 98 percent of the world's investable market capitalisation.