IPO Centre     04-Apr-24
IPO News
Bharti Hexacom IPO subscribed 1.12 times
The offer received bids for 4.62 crore shares as against 4.12 crore shares on offer.
The initial public offer (IPO) of Bharti Hexacom received 4,62,41,546 bids for shares as against 4,12,50,000 shares on offer, according to stock exchange data at 17:00 IST on Thursday (4 April 2024). The issue was subscribed 1.12 times.

The issue opened for bidding on Wednesday (3 April 2024) and it will close on Friday (5 April 2024). The price band of the IPO is fixed at Rs 542 to 570 per share. An investor can bid for a minimum of 26 equity shares and in multiples thereof.

The offer comprises entirely an offer for sale (OFS) of 7,50,00,000 equity shares. The company will not receive any proceeds from the offer and all the offer proceeds will be received by the selling shareholder Telecommunications Consultants India Limited (TCIL).

Post issue, parent Bharti Airtel will retain its 70% stake in Bharti Hexacom, while TCIL’s stake will drop to 15%.

Ahead of the IPO, Bharti Hexacom on Tuesday, 2 April 2024 raised Rs 1,923.75 crore from anchor investors. The board allotted 3.37 crore shares at Rs 570 each to 97 anchor investors.

Bharti Hexacom runs mobile services in Rajasthan and the Northeast telecommunication circles of India, comprising Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. The company offers its services under the brand Airtel.

As of 31 December 2023, the company was present in 486 census towns and had an aggregate of 27.1 million customers across both the circles. The distribution network comprised 616 distributors and 89454 retail touch points. It has invested Rs 206 billion in capital expenditures in its future ready digital infrastructure.

The firm reported a net profit of Rs 281.80 crore and sales of Rs 5,220.80 crore for the nine months ended on 31 December 2023.

Previous News
  Bharti Hexacom IPO subscribed 1.12 times
 ( IPO Centre - IPO News 04-Apr-24   17:06 )
  Bharti Hexacom reports standalone net loss of Rs 70.90 crore in the December 2021 quarter
 ( Results - Announcements 17-Feb-22   17:51 )
  Bharti Hexacom to convene board meeting
 ( Corporate News - 02-May-24   16:24 )
  Board of Bharti Hexacom recommends Final Dividend
 ( Corporate News - 14-May-24   15:53 )
  Bharti Hexacom standalone net profit rises 10.25% in the March 2024 quarter
 ( Results - Announcements 14-May-24   16:18 )
  Bharti Hexacom reports standalone net profit of Rs 99.30 crore in the September 2022 quarter
 ( Results - Announcements 24-Nov-22   15:31 )
  Bharti Hexacom spurts on debut
 ( Hot Pursuit - 12-Apr-24   10:24 )
  Bharti Hexacom standalone net profit rises 39.84% in the December 2023 quarter
 ( Results - Announcements 26-Mar-24   07:42 )
  Bharti Hexacom reports standalone net loss of Rs 184.10 crore in the September 2023 quarter
 ( Results - Announcements 24-Nov-23   07:37 )
  Bharti Hexacom IPO subscribed 29.88 times
 ( IPO Centre - IPO News 05-Apr-24   17:36 )
  Bharti Hexacom standalone net profit rises 164.03% in the June 2023 quarter
 ( Results - Announcements 17-Aug-23   07:35 )
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