Bharti Hexacom which is a part of a famous telecommunication company Bharti Airtel has decided to offer its share to the public. The IPO will start on the 3rd of April and will end on the 5th of April. Allotment of institutional investors will be done by 2nd April
TCIL To Sell 7.5 Crore Shares
The shares being sold belong to Telecommunication Consultant India (TCIL) which currently owns 15% of Bharti Hexacom shares. They have planned to sell 7.5 crores of shares.
TCIL has decided to sell some of its shares to the public to raise money for the company. They are aiming for a valuation of somewhere between 28000 crores to 35000 crores
But what does Bharti Hexacom Do?
Bharti Hexacom provides telecommunications services in the state of Rajasthan and some northeast regions as well, recently this company has seen growth and they’ve been making more money per customer. Bharti Hexacom has a range of mid-band spectrum that helps them provide advanced services like 5G to their customers.
They made around ₹3,420 crore in revenue in the last six months, which is more than before. But their profits decreased to ₹69 crore from ₹195 crore the year before.SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are helping Bharti Hexacom with the process of selling shares to the public.
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