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Business News/ Markets / Ipo/  Bharti Airtel initiates process for subsidiary Bharti Hexacom IPO: Report
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Bharti Airtel initiates process for subsidiary Bharti Hexacom IPO: Report

According to CNBC-TV18 news report, Bharti Airtel has commenced the process of going public for its subsidiary, Bharti Hexacom. As per the report investment bankers Axis Capital, SBI Cap, IIFL, and ICICI Securities have been appointed to begin Bharti Hexacom's IPO process.

Bharti Airtel has begun the IPO process for its subsidiary Bharti Hexacom, with a valuation of ₹20,000 crore and a target to finish listing by early 2024: CNBC-TV18 (HT_PRINT)Premium
Bharti Airtel has begun the IPO process for its subsidiary Bharti Hexacom, with a valuation of 20,000 crore and a target to finish listing by early 2024: CNBC-TV18 (HT_PRINT)

Bharti Hexacom IPO: Bharti Airtel Ltd has initiated the preliminary stages of the initial public offering (IPO) for its subsidiary, Bharti Hexacom, according to sources familiar with the matter told CNBC-TV18. If the IPO process materialises, it would mark a significant milestone for the Bharti Group, representing its first public offering in over a decade.

The Bharti Group's last IPO was Bharti Infratel, which is currently known as Indus Towers and went public back in 2012.

Sources also told CNBC -TV 18 that Bharti Hexacom's valuation would be at 20,000 crore and that the listing process going to be finished by early 2024.

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The sources told CNBC-TV18 that investment bankers Axis Capital, SBI Cap, IIFL, and ICICI Securities have already been appointed to start the IPO process by Bharti Airtel.

According to information on the company's website, Bharti Hexacom is a wholly owned subsidiary of Bharti Airtel, which owns 70% stake in the company, with the Indian government owning the remaining 30% through Telecommunication Consultants of India Limited (TCIL).

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The aim of the IPO, according to a news report of CNBC-TV18, is to provide a partial or complete exit for TCIL.

Bharti Hexacom operates in the North East Circle and Rajasthani markets for telecommunications. Within Rajasthan and the Northeastern regions of India, the company offers the most extensive mobile phone services. Additionally, the company offers broadband and fixed line services in Rajasthan, India.

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As per the news report, Bharti Airtel spokesperson said in response to CNBC-TV18's question that the company regularly looks into different ways to raise money, but not limited to raising funds by accessing the capital markets.

The company will make requisite announcements, if any, as required under applicable laws, the spokesperson told CNBC-TV18.

Also Read: Tata Tech IPO: 10 key points from RHP you should know about 2023's third largest IPO

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 22 Nov 2023, 03:15 PM IST
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