Bharti Hexacom IPO Price Band Revealed

Bharti Hexacom IPO Price Band Revealed

VoM News Desk | March 26, 2024 | 07:59 PM IST | Breaking News | Follow on Google News

Bharti Hexacom IPO Price Band Revealed

Bharti Hexacom IPO Price Band Revealed

• Bharti Hexacom IPO announces price band: ₹542 to ₹570 per equity share of face value ₹5.
• Subscription opens: Wednesday, April 3; Closes: Friday, April 5.
• Bids in multiples of 26 shares, minimum bid: 26 shares.

Offer Structure:

• 75% for Qualified Institutional Buyers (QIB).
• Up to 15% for Non-Institutional Investors (NII).
• Up to 10% for Retail Investors.

Offer Composition:

• Offer-for-sale (OFS) only, no fresh issue.
• Telecommunications Consultants India to sell 7.5 crore equity shares, 15% of OFS.

IPO Size:

• Finalized after consultation with book running lead managers (BRLMs).
• Government to sell only 15% shares through TCIL.
• TCIL holdings subject to six-month lock-in period.

Lead Managers:

• SBI Capital Markets Limited
• Axis Capital Limited
• BOB Capital Markets Limited
• ICICI Securities Limited
• IIFL Securities Limited.

Bharti Hexacom’s Expansion Plans

• Provides communication solutions in Rajasthan and North East circles.
• Aims to enhance network coverage in existing areas.
• Focuses on revenue-generating cities and high-value catchment areas.
• Prioritizes rural coverage to increase 4G/5G customer base.
• Invested ₹71,033 million in network expansion in recent fiscal years.
• Achieved growth in market share and average revenue per user (ARPU).

Director’s Statement

• Soumen Ray emphasizes continuous network expansion and infrastructure investment.
• Highlights growth in 4G/5G customer base and market share.
• Stresses commitment to enhancing customer experience and revenue growth.

VoM News Desk

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