Bharti Hexacom IPO: According to people familiar with the subject, Bharti Airtel Ltd has begun the early phases of the initial public offering (IPO) for its subsidiary, Bharti Hexacom. If the IPO goes ahead, it will be a significant milestone for the Bharti Group, as it will be the company's first public offering in almost a decade.
The Bharti Group's most recent initial public offering (IPO) was Bharti Infratel, which is now known as Indus Towers and went public in 2012. According to sources, Bharti Hexacom's valuation would be 20,000 crore, and the listing process will be completed by early 2024.
According to CNBC-TV18, Bharti Airtel has already appointed investment bankers Axis Capital, SBI Cap, IIFL, and ICICI Securities to begin the IPO process.
According to the company's website, Bharti Hexacom is a fully owned subsidiary of Bharti Airtel, with the Indian government controlling the remaining 30% through Telecommunication Consultants of India Limited (TCIL). According to a CNBC-TV18 news report, the IPO's goal is to offer TCIL with a partial or complete exit.
Bharti Hexacom is a telecommunications company that works in the North East Circle and the Rajasthani markets. The organization provides the most comprehensive mobile phone services in Rajasthan and the Northeastern areas of India. In Rajasthan, India, the company also provides broadband and fixed line services.
According to the news report, a Bharti Airtel representative said in answer to a question from CNBC-TV18 that the business constantly looks into alternative ways to generate money, including raising funds through the capital markets.
The corporation will make the necessary announcements, if any, as required by applicable laws, according to a spokeswoman for CNBC-TV18.
