Bharti Hexacom IPO Set To Launch In Early April, Eyeing Valuation Over ₹28,000 Cr

Bharti Hexacom, a subsidiary of telecom behemoth Bharti Airtel, is gearing up to launch its Initial Public Offering (IPO) in the first week of April, with a target valuation exceeding ₹28,000 crore.

What Happened: Bharti Hexacom’s IPO size, as per a CNBC report, is projected to be around ₹4,300 crore. The company, which provides consumer mobile services, fixed-line telephone, and broadband services under the Airtel brand, received the green light from the Securities and Exchange Board of India (SEBI) for its IPO plans on March 19.

See Also: How To Check Enfuse Solutions IPO Allotment Status

As per the draft red herring prospectus (DRHP) filed with SEBI on January 19, Bharti Airtel owns a 70% stake in Bharti Hexacom, while non-promoter Telecommunications Consultants India holds the remaining 30%.

Despite a 67.2% drop in net profit at ₹549 crore for the year ending March 2023, Bharti Hexacom’s revenue from operations saw a 21.7% increase to ₹6,579 crore, driven by robust performance in Rajasthan and the North East.

Read Next: Apple Users Beware: Cert-In Discovers Severe Security Gaps Affecting iPhones iPads And Macs

Engineered by Benzinga Neuro, Edited by Utkarsh Roshan

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: NewsIPOsAirtelBharti Hexacom