In a significant development, Bharti Hexacom, a unit of telecom giant Bharti Airtel, has received approval from the Securities and Exchange Board of India (SEBI) to float its Initial Public Offering (IPO)¹².

Bharti Hexacom’s IPO Details

The IPO comprises an offer-for-sale (OFS) of 10 crore equity shares by Telecommunications Consultants India, with no fresh issue component¹. This means the entire issue proceeds (excluding IPO expenses) will go to the selling shareholder¹. The offer represents 20% of the paid-up equity share capital of Bharti Hexacom².

About Bharti Hexacom

Bharti Hexacom provides telecommunication services in Rajasthan and the Northeast². Bharti Airtel holds 70% of the equity share capital of the company, and the government through Telecommunication Consultants of India Limited holds 30%². It is among the top global mobile operators in terms of the number of customers and India’s largest integrated communications solutions provider as of fiscal 2023².

Conclusion

The approval of Bharti Hexacom’s IPO by SEBI marks a significant milestone for the company. As it prepares to make its market debut, investors will be keenly watching this space. The IPO is expected to provide a significant boost to Bharti Hexacom’s growth trajectory and further solidify its position in India’s telecommunications sector¹².