Bharti Airtel Initiates IPO Process for Subsidiary Bharti Hexacom

Bharti Airtel Initiates IPO Process for Subsidiary Bharti Hexacom

VoM News Desk | November 22, 2023 | 06:27 PM IST | Breaking News | Follow on Google News

Bharti Airtel Initiates IPO Process for Subsidiary Bharti Hexacom

Bharti Airtel Initiates IPO Process for Subsidiary Bharti Hexacom

Bharti Airtel Ltd has commenced the initial stages of an initial public offering (IPO) for its subsidiary, Bharti Hexacom. This move marks a significant development for the Bharti Group, as it gears up for its first public offering since the Bharti Infratel IPO in 2012, now known as Indus Towers.

Valuation and Expected Timeline

Sources close to the matter revealed to CNBC-TV18 that Bharti Hexacom is valued at approximately ₹20,000 crore. The listing process is anticipated to be completed by early 2024, marking a major milestone in the Group’s financial strategy.

Appointment of Investment Bankers

To facilitate the IPO process, Bharti Airtel has reportedly appointed investment bankers including Axis Capital, SBI Cap, IIFL, and ICICI Securities. These institutions are expected to play a crucial role in steering the IPO towards successful completion.

Bharti Hexacom’s Operations and Objectives

Bharti Hexacom, a wholly owned subsidiary of Bharti Airtel, operates extensively in Rajasthan and Northeast India, providing mobile phone services, broadband, and fixed line services. The company is 70% owned by Bharti Airtel, with the Indian government holding the remaining 30% through Telecommunication Consultants of India Limited (TCIL). The IPO aims to facilitate a partial or complete exit for TCIL.

Company’s Response to Capital Raising Initiatives

In response to queries, a Bharti Airtel spokesperson stated that the company is continually exploring various fundraising options, including accessing capital markets. Official announcements will be made as required under applicable laws.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.