Post the IPO, parent Bharti Airtel will retain its 70% stake in Bharti Hexacom while TCIL’s stake will drop to 15%.
The Bharti Hexacom IPO’s public issue will run from April 3 to April 5.
The allotment will likely be decided on April 8, 2024. After the allotment, the IPO will start trading on both the BSE and NSE stock exchanges. The price band for the IPO will be announced in the upcoming week.
Bharti Hexacom has allocated 75 percent of the issue size for qualified institutional buyers. 15 percent of the issue size is reserved for non-institutional investors, including high net-worth individuals. The remaining 10 percent is set aside for retail investors.
Bharti Hexacom’s initial public offering (IPO) consists solely of an offer-for-sale (OFS) segment; no new shares are being issued.
The company’s only public shareholder, Telecommunications Consultants India, plans to sell 7.5 crore equity shares, or 15% of the OFS.
Under Sunil Mittal’s leadership, Bharti Airtel holds a 70% ownership stake, 35 crore shares. Non-promoter TCIL holds the remaining 30% of the ownership, 15 crore equity shares.
As per the ₹28,000 crore to ₹35,000 crore valuation target range, the public sector enterprise seeks to attain the target amount by gradually dumping equity in two stages.
Bharti Hexacom, which offers mobile services in Rajasthan and the Northeastern areas of India, is primarily owned by Airtel. The states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura are included in the Northeastern communication circles.
Bharti Hexacom increased its average revenue per user (ARPU) to ₹195 for the six months that ended in September, up from ₹135 in FY21.
