Bharti Hexacom, Airtel Subsidiary, Announces IPO for Rs 4,275 Crore

26 Mar 2024 , 10:23 AM

Bharti Hexacom is a subsidiary of Bharti Airtel, offering consumer mobile services, fixed-line telephone, and broadband services under the brand Airtel in Rajasthan and North East telecommunication circles in India.

1. IPO Details:
   • Price Band: Rs 542-570 per share
   • IPO Dates: April 3 to April 5
   • Anchor Book Opening: April 2
   • Aimed Fundraising: Rs 4,275 crore
   • Market Cap (Upper Price Band): Rs 28,500 crore
   • Offer for Sale (OFS): No fresh issue component, only OFS by Telecommunications Consultants India for 7.5 crore equity shares (15% stake)
2. Allotment and Trading:
   • Basis of Allotment: April 8
   • Crediting of Shares: April 10
   • Trading Begins: April 12
3. Allocation Breakdown:
   • 75% for Qualified Institutional Buyers (QIBs)
   • 15% for Non-Institutional Investors (NIIs/HNIs)
   • 10% for Retail Investors
4. Regulatory Approval and Managers:
   • Approved by SEBI on March 11
   • Book Running Lead Managers: SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Capital Services
   • Registrar: KFin Technologies