New Delhi: Bharti Hexacom, a subsidiary of Bharti Airtel has announced the price band for its upcoming Rs 4,275-crore initial public offering (IPO).
Here Are 10 Key Points You Want To Know About Bharti Hexacom IPO
- Bharti Hexacom has set IPO price range at Rs 542 to Rs 570 per share.
- IPO subscription opens from April 3 and ends on April 5.
- Bidding for anchor investors begins on April 2.
- This is going to be the first IPO of the fiscal year 2024-25.
- IPO entirely consists of offer-for-sale (OFS) of 7.5 crore equity shares by Telecommunications Consultants India Ltd.
- At upper price range, IPO size is Rs 4,275 crore.
75% of issue reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors, and 10% for retail investors.
- The company filed preliminary IPO papers on January 20
- It got approval on March 11.
- SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are lead managers.
Since it is an offer-for-sale or OFS, Bharti Hexacom will not receive any proceeds from the IPO, reported news agency PTI.At present, promoter Bharti Airtel holds 70 per cent stake and the remaining 30 per cent stake is owned by Telecommunications Consultants India.Bharti Hexacom provides telecommunication services in Rajasthan and the North East.
With PTI Inputs
