Bharti Hexacom IPO to open next week; here’s all you need to know

Bharti Hexacom IPO: Bharti Hexacom, a subsidiary of telecom operator Bharti Airtel, is set to launch its initial public offering (IPO) for public subscription starting from April 3. The company is planning to raise Rs 4,275 crore from the IPO which is purely an offer for sale by its shareholders.

The IPO, spanning three days, will close on April 5, with the anchor book opening for a day on April 2, as per the Red Herring Prospectus (RHP).

The company has fixed price band of Rs 542-570 per share and a retail investor can bid for minimum one lot of 26 shares up to maximum of 13 lots. One lot of Bharti Hexacom shares will be priced at Rs 14,820.

Marking the first IPO of the financial year 2024-25, Bharti Hexacom's IPO will consist of 7.5 crore shares. The allotment for the IPO is slated to be finalised on Monday, April 8, 2024.

Following the IPO, Bharti Hexacom is expected to list on both the BSE and NSE, with a tentative listing date set for Friday, April 12, 2024.

Established in 1995, Bharti Hexacom Limited specialises in providing fixed-line telephone and broadband services, primarily catering to customers in Rajasthan and the North East telecom circles of India.

The company's services extend across states such as Rajasthan, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. As of December 31, 2023, the company has invested Rs 20,600 crore in digital infrastructure capital expenditures to ensure future readiness.