Bharti Hexacom IPO to open on April 3

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 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) filed on Friday.

Marking the first IPO of the financial year 2024-25, Bharti Hexacom's IPO will consist of 7.5 crore shares, entirely offered for sale. 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. However, the price bands for the IPO are yet to be announced.

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.