Bharti Hexacom IPO Launch in April

Bharti Hexacom IPO Launch in April

VoM News Desk | March 20, 2024 | 02:05 PM IST | Breaking News | Follow on Google News

Bharti Hexacom IPO Launch in April

Bharti Hexacom IPO Launch in April

Bharti Hexacom’s eagerly awaited IPO, aiming for a valuation exceeding ₹28,000 crore, is anticipated to debut in April. The IPO is projected to have a size of approximately ₹4,300 crore, with Telecommunications Consultants holding a 30% stake in the company.

Offer-For-Sale (OFS) Structure

The IPO will primarily be an offer-for-sale (OFS) of up to 10 crore equity shares by existing shareholders. Bharti Airtel, the parent company, owns the remaining 70% stake in Bharti Hexacom.

Book-Running Lead Managers and Business Focus

The book-running lead managers for the IPO include SBI Capital Markets Ltd, Axis Capital Ltd, BOB Capital Markets Ltd, ICICI Securities Ltd, and IIFL Securities Ltd. Bharti Hexacom operates in Rajasthan and the North East telecom circles of India, serving states like Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. The company offers fixed-line, broadband, and consumer mobile services under the renowned “Airtel” brand.

Financial Highlights and Market Position

According to the company’s Draft Red Herring Prospectus (DRHP), Bharti Hexacom recorded revenue of ₹3,420 crore for the six months ending in September, surpassing the previous year’s ₹3,167 crore. However, profits declined from ₹195 crore to ₹69 crore compared to the preceding year. Bharti Airtel, with a price-to-earnings (P/E) ratio of 75.18, is listed as one of the company’s peers in the DRHP.

Trading Activity and Market Sentiment

On Wednesday’s trading session at 13:00 IST, Bharti Airtel shares were valued at ₹1,230.55 apiece, marking a modest increase of 0.22% on the Bombay Stock Exchange (BSE).

Investors and market enthusiasts are eagerly awaiting further developments and announcements regarding the Bharti Hexacom IPO, poised to be a significant event in the Indian capital market landscape.

VoM News Desk

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