Bharti plans to list the newly hived off Bharti Televentures to be followed by other group companies, Bharti Teletech and Bharti BT Internet. Apart from equity, the group also plans to raise Rs 2,500 crore as long term capital debt, with pre-payment clauses to fund the future acquisitions and operations, which include National Long distance (NLD) operations and sub-marine cable system.

Currently, the group has capital investment of about Rs 2,000 crore with loan component of less than Rs 800 crore. According to Mittal, over the next four years, the group would need Rs 2,000 crore for setting up the NLD network, Rs 700 crore for setting up under sea cable network, and Rs 500-700 crore for mergers, acquisitions, and new projects.

Meanwhile, Bharti Enterprises is in the advanced stage of discussion to finalise partners for setting up a submarine cable system between Chennai and Singapore. The distance of 3,500 km will cost the company nearly Rs 700 crore. According to Mittal, the company is currently finalising its partner for the project, and is talking to various companies in Europe and the US. Discussions are also going on with SingTel for the same.

Plans on the anvil also include unveiling ESOP options by the end of the month for more than 3,200 employees working in the various group companies. Meanwhile, Bharti has appointed McKinsey, to advice on a number of areas, including broadband and proposed ADR issue.

On the Internet side of its business, group company Bharti BT Internet plans to extend its services to 27 cities and to re-strengthen itself on the content side.Meanwhile, the Group is on the lookout for good buys in the telecom services sector. It is eyeing basic services in Delhi, Haryana, and Karnataka. It wants to go `pan-India' with cellular, basic and NLD operations. "But we will only buy if the price is right, unlike some other players, who are going over the top and buying properties at any cost. We will prefer to wait for the fourth licence to be opened up, in case we are not able to get value propositions," said Mittal.

On overseas operations, Mittal said since there is so much happening in India itself "We have put on hold our Africa plans. It is better to acquire licences in five Indian states, rather than getting into three Afircan countries." At present, the group has no plans to expand its operations abroad other than Seychelles, where it already has a network and Nepal, where it has bid for a licence.

Meanwhile, the group is planning to focus on Bharti Telesonic, which is the DLD company. However, in case DoT makes it a condition that only companies with a net worth of Rs 5,000 crore can apply for the licence, then "We will apply for the licence through Bharti Televentures, and Bharti Telesonic will become a division of Bharti Televentures," added Mittal.