Bharti Airtel's tower arm has received regulatory approval for a planned $800 million initial

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public offering, sources with direct knowledge said, in what will be the country's biggest IPO in two years.

Bharti Infratel's share sale is scheduled to open on December 10 for anchor investors, and a day later to the public, said three sources, who declined to be named as the information is not yet public.

The issue will close on December 14, the sources said. Bharti Infratel is likely to announce details of the share sale on Friday, one of the sources said.

A Bharti spokesman declined comment.