Bharti Airtel subsidiary Bharti Hexacom to launch IPO on Apr 3
Bharti Hexacom IPO Opens for Subscription, Seeks to Raise Rs 4,275 Crores Through Offer for Sale
BILKULONLINE
Ahmedabad, March 26: Bharti Hexacom Limited, a subsidiary of Bharti Airtel Limited, has announced its plans to launch an initial public offering (IPO) to raise Rs 4,275 crore. The IPO, which is entirely an offer for sale of 7.5 crore shares, will open for subscription on April 3, 2024, and close on April 5, 2024.
The ₹4,275-crore public offer comprises an offer for sale of up to 7.5 crore shares by TCIL and no fresh issue. The offer will not see any dilution of Airtel’s stake in the company. The IPO price band has been fixed at ₹542-570 per share.
The price band for the IPO has been set at ₹542 to ₹570 per share, with a minimum lot size of 26 shares. Retail investors will need to invest a minimum of ₹14,820. The allotment for the IPO is expected to be finalized on April 8, 2024, and the listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is tentatively scheduled for April 12, 2024.
Bharti Hexacom Limited, incorporated in 1995, provides fixed-line telephone and broadband services in Rajasthan and the North East telecom circles in India. The company has invested ₹206 billion in digital infrastructure capital expenditures by December 31, 2023, to enhance its services and be future-ready.
Bharti Hexacom IPO Opens for Subscription, Seeks to Raise Rs 4,275 Crores Through Offer for Sale
Bharti Hexacom IPO Price Band Set at ₹542-570, Subscription Opens April 3
The Bharti Hexacom IPO allotment will likely take place on April 8, while its listing take place on April 12 on both BSE and NSE. According to market observers, unlisted shares of Bharti Hexacom Ltd are trading Rs 50 higher in the grey market as compared with its issue price.
Top Management of the company comprises of J S Deepak Chairperson and Non-Executive Director, Devendra Khanna Non-Executive Director, Soumen Ray Non-Executive Director and Surajit Mandol is the Non-Executive Director.
