A subsidiary of one of India’s top telecom service providers, Bharti Hexacom, is said to launch its IPO in the coming month. The opening date of the IPO is April 3, and it will close on April 5. The size of the IPO is estimated to be around Rs 4,275 crore. The bidding for anchor investors will take place on April 2, a day before the start of the offer period.
The price band for the IPO is Rs 542-570, and the book-running lead managers of the Bharti Hexacom IPO include SBI Capital Markets Limited, Axis Capital Limited, Bob Capital Markets Limited, ICICI Securities Limited, and IIFL Securities Ltd. The IPO is an Offer-For-Sale only with no fresh issue of shares. The lot size for Bharti Hexacom IPO is 26. This means that investors will have to bid in multiple of 26 shares lot size, making the minimum investment around Rs 14,092, with a maximum of Rs 14,820.
Bharti Hexacom is an old company that has been in the business since 1995. The company has been offering fixed-line telephone and broadband services, mostly in Rajasthan and some parts of Nort-East India, since its inception in 1995. The company has around 2.7 crore users in an estimated 486 towns across India. The average revenue per user of the company is around Rs 195, which is up from Rs 135 in 2021. CEO of Bharti Aitel, Gopal Vittal, also considered one of the top CEOs in India, said that this IPO will be good for the company and investors looking to invest in a promising company.
After the IPO is released, Bharti Hexacom shares will likely be open to trade on Nifty and Sensex from 14 April onwards.
