Bharti Airtel’s subsidiary Bharti Hexacom is set to go public on April 3. It will be the first initial public offering in the new financial year 2024-25.
The public issue will close on April 5. Further, the anchor investor bidding will be open one day prior to the bid/offer opening date, i.e., April 2, 2024, the company said in an exchange filing.
The Bharti Hexacom IPO consists solely of an offer-for-sale (OFS) component, without any fresh issue of shares.
Telecommunications Consultants India, the sole public shareholder in the company, will offload 7.5 crore equity shares or a 15% stake in the OFS.
Sunil Mittal-driven telco Bharti Airtel holds a 70% stake or 35 crore shares and the remaining 30% shareholding, equivalent to 15 crore equity shares is held by non-promoter TCIL.
Following the company’s valuation target range of Rs 28,000 crore – Rs 35,000 crore, the public sector firm would…
