This is the first instance of such requests received by Sebi under the new framework for 'Rejection of offer documents' it announced on October 9.
The regulator has sent a copy of these complaints to Bharti Infratel.
The latter has planned to raise up to Rs 5,500 crore (Rs 55 billion) through the IPO.
The company is 13.9 per cent owned by financial investors, including Kohlberg Kravis Roberts & Co, Macquarie Group, Citigroup, Investment Corporation of Dubai and AIF Capital.
In an email, the Bharti group spokesperson said, "Sebi has forwarded to us certain complaints received by them in relation to the proposed IPO of Bharti Infratel.
"We have already replied to Sebi, pointing out that all necessary disclosures on the matter have already been made in the detailed DRHP (preliminary prospectus) filed."
Adding: "We have given all relevant details and rationale to counter all these complaints and allegations, and accordingly have requested Sebi to reject these complaints, as these are incorrect and do not fall under the purview of the said new Sebi regulations."
Sebi's spokesperson did not respond to an email seeking comments.
The complainant, Maheshwar Hazari, a Member of Parliament, said in a letter dated October 15, addressed to Sebi chairman U K Sinha: "The company has virtually no assets under its name, as most of the schemes of arrangement are pending before courts and the company may not get approvals." Business Standard has reviewed a copy of this letter.
Bharti Infratel is a provider of telecom towers and related infrastructure and on a consolidated basis, is one of the largest in India, "based on the number of towers that Bharti Infratel owns and operates and the number of towers owned or operated by Indus, that are represented by Bharti Infratel's 42 per cent equity interest in Indus," according to the offer document.
In 2007, Bharti Infratel entered into a joint venture, called Indus Towers, with Vodafone India and Aditya Birla Telecom.
Infratel and Vodafone hold 42 per cent each and Aditya Birla holds16
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