The Business Bytes
TBB BUREAU
BHUBANESWAR, MAR 27, 2024
Bharti Hexacom Limited, a prominent player in the telecommunications sector, is set to open its bid/offer for its initial public offering (IPO) of equity shares on April 3, 2024. The IPO marks a significant milestone for the company as it aims to expand its investor base and achieve the benefits of listing on the stock exchanges.
The total offer size of equity shares, with a face value of Rs 5 each, comprises an offer for sale of up to 75,000,000 equity shares by Telecommunications Consultants India Limited (TCIL). The Anchor Investor Bidding date is scheduled for April 2, 2024, while the Bid/Offer will close on Friday, April 5, 2024.
The price band of the offer has been fixed at Rs 542 to Rs 570 per equity share. Interested investors can place bids for a minimum of 26 equity shares and in multiples of 26 equity shares thereafter.
The primary objectives of the offer are twofold: (i) to carry out the Offer for Sale of up to 75,000,000 Equity Shares by the Selling Shareholder, TCIL, and (ii) to achieve the benefits of listing the Equity Shares on the Stock Exchanges.
The equity shares are being offered through the red herring prospectus of the Company dated March 22, 2024, filed with the Registrar of Companies, Delhi & Haryana, and are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited (NSE).
SBI Capital Markets Limited, Axis Capital Limited, BOB Capital Markets Limited, ICICI Securities Limited, and IIFL Securities Limited have been appointed as the Book Running Lead Managers to the offer, underscoring the robust advisory and management framework supporting this significant financial event.
