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regular-article-logo Monday, 27 May 2024

Bharti Hexacom IPO price band set at Rs 542-570, subsidiary to debut between April 3 and 5

The IPO is entirely an offer-for-sale (OFS) of 7.5 crore equity shares by Telecommunications Consultants India Ltd, a government of India entity

Our Special Correspondent Mumbai Published 27.03.24, 10:47 AM
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A price band of Rs 542-570 per share has been fixed for the initial public offering (IPO) of Bharti Hexacom, a subsidiary of Bharti Airtel

While the share sale will open for public subscription between April 3 and 5, the bidding for anchor investors will be on April 2. Investors can bid for a minimum of 26 shares and in multiples of 26 shares thereafter.

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The IPO is entirely an offer-for-sale (OFS) of 7.5 crore equity shares by Telecommunications Consultants India Ltd, a government of India entity.

TCIL owns 30 per cent of Bharti Hexacom. It is an engineering and consultancy company and was set up in 1978 to provide Indian telecom expertise in all fields of telecom and information technology to developing countries around the world. The rest of Bharti Hexacom’s equity is held by Bharti Airtel.

Bharti Hexacom provides telecommunication services in Rajasthan and the North East. It is present in 486 census towns and had an aggregate of 2.71 crore customers across both the circles, as of December 31, 2023.

The company has a strong distribution and service network across the regions it operates in.

During the nine months period ended December 31, 2023 and the last three fiscal years, it has set up 51 retail outlets and 24 small format stores to reach 90 cities.

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