Bharti Hexacom, a subsidiary of Bharti Airtel, is set to kick off its initial public offering (IPO) for subscription on April 3, with the window closing on April 5. The company aims to raise Rs 4,275 crore through an offer-for-sale (OFS) by Telecommunications Consultant Service, which plans to divest its 7.5 crore equity shares.
Specializing in communication solutions, Bharti Hexacom serves customers in the Rajasthan and North East telecommunication circles in India, covering states such as Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. It also provides fixed line and broadband services in Rajasthan region.
Price Band
The price band for Bharti Hexacom's public offering is set at Rs 542 to Rs 570 per share. Investors must bid for a minimum of 26 shares and can increase their bid in multiples of 26.
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Key Dates
The shares of the Bharti Hexacom IPO will be allotted by Friday, April 5. Share allocation will be confirmed by April 8 and deposited into investors' demat accounts by April 10. The stock is slated to debut on both the BSE and NSE on April 12.
Bharti Hexacom's Issue Size
Bharti Hexacom's IPO aims to raise Rs 4,275 crore, solely through an offer-for-sale by Telecommunications Consultant Service, with no fresh issue of shares.
Telecommunications Consultants India is planning to sell 7.5 crore equity shares, equivalent to 15 per cent of the offer-for-sale. It is an engineering and consulting firm providing telecom expertise from India to developing nations globally in IT and telecom sectors.
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IPO Reservation
The IPO has reserved 75 per cent for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and the remaining 10 per cent for retail investors.
SBI Capital Markets Ltd, Axis Capital Ltd, BOB Capital Markets Ltd, ICICI Securities, and IIFL Securities Ltd have been appointed as the lead managers for the IPO. The registrar for the IPO is Kfin Technologies Ltd.
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