Bharti Hexacom IPO Review, Issue Size, Offer for Sale, DRHP Details

Bharti Hexacom filed draft papers for an IPO recently. Now Dalal Street is excited for Bharti Hexacom IPO after the filing of DRHP. The company is an arm of Airtel. It operates in several states of India, providing several telecommunications services. It operates majorly in Rajasthan, and the six states from the seven sister states, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. The IPO will offer 20% of the company’s paid-up capital, aggregating to 10 Crores equity shares. Let us move to more details about Airtel’s arm Bharti Hexacom’s upcoming IPO.

Bharti Hexacom IPO

Bharti Hexacom is an arm of the Airtel company. It deals in telecom services to the states like Rajasthan and northeastern states. The company will be providing ten crores of equity shares through offer-for-sale in the Bharti Hexacom IPO. The decision got its approval in the meeting held on 19 January 2024. All the existing shareholders will be providing offer-for-share. Thus, the company will not get any proceeds.

Bharti Airtel holds 70% of the company’s shares. While the 30% is with Telecommunications Consultants. It is a government-led company. The shares will constitute 20% of the company’s paid-up capital.

Bharti Hexacom files the IPO Draft Red Herring Prospectus DRHP with SEBI after the meeting on Friday. The equity shares will have a face value of Rs. 5 per share. The company will release the IPO soon after the approval from SEBI. It might take approximately two months for it or less. Many investors look forward to the company’s growth in the next few months.

The company gave a decent performance in its previous quarter. The revenue for Q2 also increased from Rs. 3167 crore to Rs. 3420 Crore. However, the net profits fell from Rs. 195 crore last year to Rs. 69 Crore.

The current year expects to have an increase in revenue and expenses. Apart from that, the company expects an increase in profits as well. However, the rest depends on its Q3 results for the year 2024. If we talk about Bharti Airtel’s shares, it has made a growth of 3.68% today. It is currently running at Rs. 1,127 per share.

Bharti Hexacom expects to have a high demand and subscription. It is a major chunk of the company’s paid-up capital available for the IPO. However, it will be only offer-for-sale shares. We hope you get enough details about Bharti Hexacom IPO and its related details above. Stay tuned for more information on Businesspatrika.

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