The issue, which will open on Dec. 10 for cornerstone investors and close on Dec. 14, will raise about 45.34 billion rupees ($825 million) at the upper end of the price band.

The offering - 188.9 million shares or 10 percent of Bharti Infratel - is set to be India's biggest IPO in two years after state-run Coal India Ltd raised $3.5 billion in October 2010.