New Delhi: The upcoming weeks are set to be a busy one as numerous public offerings are set to hit the market. One of them is Bharti Hexacom. A subsidiary of telecom giant Bharti Airtel is gearing up to debut in the stock market with its initial public offering (IPO) on April 3.
First IPO Of New Financial Year
This marks the first IPO of the new financial year 2024-25. (Also Read: IPO Calendar: 11 Public Offerings To Hit Market This Week; Details Here)
Bharti Hexacom IPO: Subscription Dates
The public issue will run from April 3 to April 5. (Also Read: iPhone 14 Plus Available With Big Discounts On Flipkart; Now You Can Buy At Rs 35,603 Off)
Bharti Hexacom IPO: Allotment Date
The Bharti Hexacom IPO's allotment will likely be decided on April 8, 2024.
Bharti Hexacom IPO: Listing Date
After the allotment, the IPO will start trading on both the BSE and NSE stock exchanges. This is expected to happen on April 12, 2024.
Bharti Hexacom IPO: Price Band
The price band for the IPO will be announced in the upcoming week.
Bharti Hexacom IPO: Issue Allocation
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 IPO: Anchor Book
The anchor book, a reserved portion for institutional investors, will open for a day on April 2.
Bharti Hexacom IPO: OFS
The Bharti Hexacom IPO will comprise solely an offer-for-sale (OFS), with no fresh issue component. Telecommunications Consultants India, the sole public shareholder in the company, will offload 7.5 crore equity shares, representing a 15 percent stake in the OFS.
Promoter Bharti Airtel currently holds a 70 percent stake in Bharti Hexacom, while Telecommunications Consultants India owns the remaining 30 percent (15 crore shares).
