New Delhi based Telecom Operator Company Bharti Hexacom files DRHP with SEBI for the proposed IPO; Key Details here

Bharti Hexacom is into Telecommunication Telecom Operator and is looking raise funds through Offer for Sale

Bharti Hexacom. Offer of Sale of 100,000,000 Equity Shares through public issue IPO

Bharti Hexacom IPO: Bharti Hexacom Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 5 per share via initial public offering.

Promoters of Bharti Hexacom are Bharti Airte Limited and holds 70% stake in the company.

Key Details:

• Initial Public Offer comprising of a Offer for Sale of upto 100,000,000 Equity shares.
• SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, IIFL Securities have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Equity Shares offer-for-sale (OFS) of up to 100,000,000 equity shares by Telecommunications Consultants India Limited (shareholder) who will offload upto 100,000,000 equity shares...

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Objects of the issue:
1) To carry out the Offer for Sale of up to 75,000,000 Equity Shares by the Selling Shareholder, constituting 15% of the pre-Offer paid up share capital of our Company; and, 2) achieve the benefits of listing the Equity Shares on the Stock Exchanges. Company will not receive any proceeds from the Offer, and all such proceeds will go to the Selling Shareholder..

About Company:
Established in 1995 as Hexacom Limited. Company is into Telecom space and is in communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India, which comprises the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland and Tripura. Copmany offer services under the brand ‘Airtel’.

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About Industry:
The customer base in the Rajasthan circle is expected to grow at 1.4%-1.5% CAGR between Fiscals 2023 and 2028, to reach 69.0-69.5 million, with a teledensity of 82%-83%. By Fiscal 2028, the number of internet customers is projected to reach 62.5-63.0 million from 46.9 million in Fiscal 2023, clocking a CAGR of approximately 6.0%. The customer base in the Northeast circle is expected to grow at 1.0-1.5% CAGR between Fiscals 2023 and 2028, to 13.2-13.5 million, with teledensity at 81%-82%. By Fiscal 2028, internet customers in the Northeast are projected to reach 12.5-13.5 million, at a CAGR of 6.0%-7.0%. (Source: CRISIL Report).

Source: SEBI, BSE, NSE, DRHP, Bharti Hexacom, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.