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Business News/ Markets / Ipo/  Bharti Hexacom IPO: Price band set at 542-570 apiece; check issue details, key dates, more
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Bharti Hexacom IPO: Price band set at ₹542-570 apiece; check issue details, key dates, more

Bharti Hexacom IPO date is scheduled to open for subscription on Wednesday, April 3, and will end on Friday, April 5. The IPO lot size is 26 equity shares and in multiples of 26 equity shares thereafter.

The Bharti Hexacom IPO price band has been fixed in the range of ₹542 to 570 per equity share of the face value of ₹5. Photo: MintPremium
The Bharti Hexacom IPO price band has been fixed in the range of 542 to 570 per equity share of the face value of 5. Photo: Mint

The Bharti Hexacom IPO price band has been fixed in the range of 542 to 570 per equity share of the face value of 5. The Bharti Hexacom IPO date is scheduled to open for subscription on Wednesday, April 3, and will end on Friday, April 5. The new fiscal year 2024–2025 (FY25) kickstarts with the Bharti Hexacom IPO. The allocation to anchor investors for the Bharti Hexacom IPO is set to take place on Tuesday, April 2. Bharti Hexacom IPO lot size is 26 equity shares and in multiples of 26 equity shares thereafter.

The floor price is 108.40 times the face value of the equity shares and the cap price is 114 times the face value of the equity shares. The price to earning ratio at the floor price is 49.36 times and at the cap price is 51.91 times. 

Also Read: Bharti Hexacom IPO: Airtel arm's public issue to open on April 3, TCIL to offload 15% stake; Details here

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It has set aside not less than 75% of the offer for qualified institutional buyers (QIB), not more than 15% of the offer for non-institutional institutional investors (NII), and not more than 10% of the offer for retail investors. 

The Bharti Hexacom IPO basis of allocation date is tentatively set for Monday, April 8. Refunds will begin on Wednesday, April 10, and shares will be credited to allottees' demat accounts the same day. Bharti Hexacom share price is likely to be listed on BSE and NSE on Friday, April 12.

Bharti Hexacom IPO details

The only component of the Bharti Hexacom IPO is an offer-for-sale (OFS); there is no fresh issue component. The company's sole public stakeholder, Telecommunications Consultants India, plans to sell off 7.5 crore equity shares, or 15% of the OFS.

Telecommunications Consultants India holds the 30% equivalent to 15 crore of the equity shares, with promoter Bharti Airtel owning the remaining 70% equivalent to 35 crore equity shares.

Thirty percent of the outstanding equity share capital is owned by the Government of India, via Telecommunications Consultants India Ltd. Telecommunications Consultants India Ltd is an engineering and consulting firm that offers developing nations all over the world access to Indian telecom expertise in all areas of information technology and telecom.

Also Read: IPOs this week: One mainboard, 12 SME public issues to open for subscription; check full list here

The issue lead managers  are SBI Capital Markets Ltd, Axis Capital Ltd, BOB Capital Markets Ltd, ICICI Securities, and IIFL Securities Ltd, while the registrar is Kfin Technologies Ltd.

The company provides communications solutions to customers in Rajasthan and the North East telecommunication circles in India, which include the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. Customers can avail fixed-line telephone, broadband, and consumer mobile services from the company. The company offers its services under the brand ‘Airtel’.

As per the Red Herring Prospectus (RHP), the company's listed peers are Bharti Airtel Ltd (with a P/E of 82.16), Vodafone Idea Ltd (with a P/E of (1.63)), and Reliance Jio Infocomm Ltd.

Between March 31, 2022, and March 31, 2023, the company's profit after tax (PAT) decreased by -67.2% while its revenue climbed by 22.3%.

Also Read: SRM Contractors IPO opens tomorrow: GMP, issue details, 10 key things to know before investing to 130 crore issue

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

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Published: 26 Mar 2024, 08:21 AM IST
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