Hot Pursuit     12-Apr-24
Bharti Hexacom spurts on debut
Shares of Bharti Hexacom were currently trading at Rs 802.20 at 10:19 IST on the BSE, representing a premium of 40.74% as compared with the issue price of Rs 570.

The scrip was listed at Rs 755.20, exhibiting a premium of 32.49% to the issue price.

So far, the stock has hit a high of 824.70 and a low of 755.20. On the BSE, over 10.33 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of Bharti Hexacom was subscribed 29.88 times. The issue opened for bidding on 3 April 2024 and closed on 5 April 2024. The price band of the IPO was fixed at Rs 542 to 570 per share.

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%.

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 reports standalone net loss of Rs 56.40 crore in the September 2021 quarter
 ( Results - Announcements 01-Dec-21   14:25 )
  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 reports standalone net profit of Rs 99.30 crore in the September 2022 quarter
 ( Results - Announcements 24-Nov-22   15:31 )
  Bharti Hexacom standalone net profit rises 10.25% in the March 2024 quarter
 ( Results - Announcements 14-May-24   16:18 )
  Bharti Hexacom to convene board meeting
 ( Corporate News - 02-May-24   16:24 )
  Bharti Hexacom gains after Q4 PAT climbs 10% YoY to Rs 223 cr; declares dividend of Rs 4/ share
 ( Hot Pursuit - 15-May-24   10:03 )
  Bharti Hexacom IPO subscribed 34%
 ( IPO Centre - IPO News 03-Apr-24   17:10 )
  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 standalone net profit rises 39.84% in the December 2023 quarter
 ( Results - Announcements 26-Mar-24   07:42 )
  Bharti Hexacom standalone net profit rises 164.03% in the June 2023 quarter
 ( Results - Announcements 17-Aug-23   07:35 )
  Bharti Hexacom
 ( IPO Centre - New Issue Monitor 28-Mar-24   10:00 )
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