Bharti Hexacom IPO: After waiting for almost 11 years, the IPO of Bharti Airtel’s subsidiary is about to hit the market. According to the report of CNBC-TV18, Bharti Hexacom, a subsidiary of Bharti Airtel Limited, has started the process of launching an IPO. It is said to be listed in the first month of 2024.
Earlier in the year 2012, the IPO of Bharti Airtel’s Bharti Infratel had come in the market. Presently it is known as Indus Towers. It is understood that this IPO will prove to be an important milestone for the Bharti Group.
According to CNBC-TV18 report, Bharti Hexacom will be valued at ₹20,000 crore and the listing process will end in early 2024. Investment bankers Axis Capital, SBI Cap, IIFL and ICICI Securities have already been appointed by Bharti Airtel to initiate the IPO process.
According to the information given on the company’s website, Bharti Airtel holds 70 percent stake in Bharti Hexacom, with the Government of India holding the remaining 30% through Telecom Consultants of India Limited (TCIL). The objective of the IPO is to provide a partial or complete exit to TCIL.
It is being told that the government plans to earn Rs 10,000 crore by selling 30 percent stake in Telecom Consultants of India Limited (TCIL) through IPO. However, no official statement has been given by the company regarding this yet.
Bharti Hexacom Telecom operates in the North East circle and Rajasthani markets. In Rajasthan and North-Eastern regions of India, the company provides the most comprehensive mobile phone services. Additionally, the company provides broadband and fixed line services in Rajasthan, India.
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