Bharti Hexacom’s IPO band at Rs 542-570/share

New Delhi: Bharti Airtel’s arm Bharti Hexacom on Tuesday said it has fixed a price band of Rs 542 to Rs 570 per share for its Rs 4,275-crore initial public offering (IPO). The initial share-sale of the telecom operator’s arm will be open for public subscription during April 3-5, and the bidding for anchor investors will open for a day on April 2, the company said in a public notice.

This will mark the first public offering in the 2024-25 fiscal year. The company’s IPO is entirely an offer-for-sale (OFS) of 7.5 crore equity shares, indicating a 15 per cent stake by Telecommunications Consultants India Ltd, with no fresh issue component. Since it is an offer-for-sale or OFS, Bharti Hexacom will not receive any proceeds from the IPO.