With Bharti Hexacom’s IPO opening on April 3, the company has set a price band of Rs 542-570.

Bharti Hexacom IPO: The Bharti Hexacom IPO is scheduled to hit the market in the first week of the new financial year 2024-25. The IPO will open on April 3 and investors can apply for the IPO till April 5. Bharti Hexacom has fixed the IPO price band at Rs 542 – 570 per share. Bharti Hexacom is gearing up to raise Rs 4,275 crore from the equity market through an IPO.

In Bharti Hexacom’s IPO, shares are being sold only through an offer for sale. No new shares are being offered in the IPO. Telecommunications Consultants India is going to sell 7.5 crore shares or 15 per cent stake in the IPO through an offer for sale. Sunil Bharti Mittal owns 70 percent stake in Bharti Airtel’s Bharti Hexacom and TCIL holds 30 percent stake.

Bharti Hexacom’s IPO will be open for applications from April 3 to 5. Allotment in the IPO will be done by April 8 and listing on NSE and BSE is expected by April 12. Investors can apply for a minimum IPO of 26 shares for which they will have to pay Rs 14,820. On top of this, retail investors can apply for a limit of up to Rs 2 lakh in multiple lots.

Bharti Hexacom provides mobile services in Rajasthan and North Eastern states. For the half-year ending September 2023, the company’s average revenue per user stood at Rs 195. The company has a total of 2.91 crore mobile users as of September 2023. The company’s revenue for the half-year ended September 2023 stood at Rs 3,420 crore, as against Rs 3,167 crore in the same period a year ago.

SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities and IIFL Securities are the book-running lead managers of the IPO. And Kfin Technologies is the registrar of the IPO.

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