Bharti Airtel’s arm Bharti Hexacom IPO to open on April 03

Bharti Hexacom IPO will open tomorrow for retail bidding on April 03. The company set its IPO price band in a range of Rs 542- 570 per equity share. It will end the bidding on April 05.

The subsidiary of Bharti Airtel wants to raise Rs 4,275 crore by selling 75 million offer-for-sale shares.

Bharati Hexacom is expected to list on April 12 and shares are expected to allot on April 08. The shares of the company will be listed on NSE and BSE.
A retail bidder needs to subscribe to a minimum of 26 shares valued at Rs 14,820 when multiplied by the upper band of Rs 570.

As it is an entirely an OFS, the collected money will go to the account of shareholders selling their stake through it.

About the company, it provides fixed-line telephone and broadband services in Rajasthan and North Eastern states.

SBI Capital Markets, Axis Capital, Bob Capital Markets, ICICI Securities, and IIFL Securities were the book-running lead managers of the IPO. The company chose Kfin Technologies as the registrar for the issue.