Bharti Hexacom, subsidiary of Bharti Airtel is ready to launch its IPO from April 3rd to April 5th, 2024.Telecom Giant is ready to launch its Subsidiary, but the fact is Company is not selling a single share.
WHO IS SELLING THE SHARES?
As per the Holding data, Bharti airtel holds 70% stake while Remaining 30% stake is held with Telecommunication Consultants India Limited (TCIL). Telecommunication Consultant of India (TCIL) is a Government of India Undertaking under the flagship of Telecom Department.
Bharti Hexacom IPO is totally an Offer for sale, the total proceeding received will not be utilized for Company’s expenses, existing investor is offloading his share.
As per SEBI, TCIL is offloading its 15% stake (i.e. 7.5crore shares), while it is upholding its remaining stake.
IMPORTANT DATES TO BE NOTED:
Bharti Hexacom IPO Opens on 3rd April 2024 and Closes on 5th April 2024. Allotment of Shares will be done on 8th April, while listing on exchanges will be on 12th April 2024.Bharti Hexacom IPO price band will be announced shortly, with a Face Value of Rs.5/_.
Shares offered for QIB will not be more than 75%, while HNI category shares allotted will be 15%, remaining 10% will be allotted for Retail Investors.
Bharti Hexacom IPO Registrar will be KFIN Technologies Private Limited.