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.

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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.

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Posted In: NewsIPOsAirtelBharti Hexacom