Bharti Infratel Ltd, the telecommunications tower arm of top Indian mobile carrier Bharti Airtel
Investors including units of Morgan Stanley
The share sale opens for public subscription on Tuesday and will close on Friday.
Bharti Infratel has set a price band of between 210 rupees and 240 rupees a share for the issue of 188.9 million shares, or 10 percent of its equity, in what will be the country's biggest IPO in two years.
Bharti Infratel is selling about 146 million new shares in the IPO, while four private equity investors including arms of Singapore state investor Temasek
Bank of America Merrill Lynch, Standard Chartered