Only Bharti Hexacom’s IPO will come in the market
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IPO This Week: The financial year 2024-25 is going to start from April 1. Only one IPO is going to hit the market in the first week of the financial year. The IPO of Bharti Hexacom, a subsidiary of telecom sector’s leading player Bharti Airtel, is about to make a splash in the market. The company is trying to collect Rs 4275 crore from the market. Bidding for this IPO can be done from April 3 to April 5. The existing shareholder of the company is Telecommunications Consultants India Ltd. He is going to sell his 15 percent stake in the company. In such a situation, 7.5 crore shares will be offered for sale. Anchor investors will get a chance to bid for the company’s stock from April 2. The shares of the company will be available at the price band of Rs 542-570 per stock. This is going to be the first IPO of the new financial year.
What is the profile of Bharti Hexacom?
Promoter Bharti Airtel holds 70 percent stake in Bharti Hexacom and the remaining 30 percent stake is with public sector Telecom Consultants India Limited. Bharti Hexacom is a communications solutions provider, providing consumer mobile services, fixed line telephone and broadband services to customers in Rajasthan and North-East telecom circles in the country. The company was established in 1995. SBI Capital Markets Ltd, Axis Capital Ltd, BOB Capital Markets Ltd, ICICI Securities Ltd and IIFL Securities Ltd are the book running lead managers to the Bharti Hexacom IPO, while Kfin Technologies Ltd is the registrar to the issue.
Also Read: Engineering company is coming up with IPO of Rs 7000 crore, documents submitted with SEBI
Holi listing of which companies
Ten companies are going to be listed on different boards in the market this week. In this, SRM Contractors Limited is the only company which is going to be listed on the mainboard. Apart from this, the listing of Radiowala Network Limited and TAC Infosec Limited is going to happen on April 5. The listing of Trust Fintech Limited is going to happen on April 4. The listing of IPOs of Vriddhi Engineering Works Limited, Blue Pebble Limited, Aspire and Innovative Advertising Limited and GConnect Logitech and Supply Chain Limited is scheduled to take place on April 3. The listing of Naman In-Store (India) Limited is going to happen on April 2 and the listing of Vishwas Agri Seeds Limited is going to happen on April 1.
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