Bharti Hexacom, a leader in telecommunication services in India, has clearly outlined the terms for its long-awaited Initial Public Offering (IPO). The company’s IPO arrives at an opportune time, as we ring in the new fiscal year of 2024-2025.
Details of the IPO Price Band
Bharti Hexacom has set its IPO price band at ₹542 to ₹570 per equity share, with a face value of ₹5 per share. Each lot in the IPO consists of 26 equity shares, with multiples of 26 shares becoming available thereafter.
The floor price of the equity shares rests at 108.40 times their face value, and the cap price is 114 times the face value.
Allocation Schedule and Stakeholder Interests
The IPO subscription opens on April 3, with allocations to anchor investors taking place a day earlier on April 2. The subscription period closes on April 5.
The company has reserved 75% of the offering for qualified institutional buyers (QIBs), alongside 15% of the offer for non-institutional investors (NII) and 10% for retail investors.
Telecommunication Consultants India, Bharti Hexacom’s sole public stakeholder, plans to liquidate 15% of its hold in the company through 7.5 crore equity shares as an offer-for-sale (OFS). This government-owned organization currently holds 30% of Bharti Hexacom’s equity shares.
IPO Allotment and Listing Date
The Bharti Hexacom IPO allotment date is likely to fall on April 8. Expect refunds for unallotted shares by April 10 and the crediting of allotted shares in demat accounts on the same day. Investors and stakeholders can look forward to the IPO’s listing on both BSE and NSE by April 12.
The Role of Bharti Hexacom
Bharti Hexacom provides a myriad of communication solutions in the northern and eastern sectors in India. Its services cover the areas of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura, and Rajasthan.
Broadband, fixed-line telephone, and mobile services are available under the powerful Bharti Airtel brand.
Bharti Hexacom’s fiscal performance between March 2022 and March 2023 witnessed a noteworthy uptick of 22.3% in revenue, despite a 67.2% dip in profit after tax (PAT).
All investors are urged to take the time to relay any inquiries to certified experts before making their investment decisions, adhering to the age-old adage, “Invest in haste, repent at leisure.”
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