Bharti Hexacom IPO opens in the present day; should you subscribe? Check price band, GMP, recommendations & more | India Business News


Bharti Hexacom IPO: The preliminary public providing (IPO) of Bharti Hexacom opened for subscription on Wednesday. The Bharti Hexacom IPO has been opened for subscription following a profitable anchor spherical, the place outstanding traders comparable to Capital Group, Fidelity Funds, ADIA, and Morgan Stanley confirmed robust curiosity, contributing over Rs 1,900 crore.

Bharti Hexacom IPO Details:

As per an ET report, Bharti Hexacom’s IPO is solely an offer-for-sale (OFS), with no new fairness issued.The sole public shareholder, Telecommunications Consultants India (TCI), will promote 7.5 crore fairness shares, representing a 15% stake by the OFS.
Sunil Mittal-led telecom firm Bharti Airtel owns 70% of Bharti Hexacom, which equals 35 crore shares. The remaining 30% possession, equal to fifteen crore fairness shares, belongs to non-promoter TCIL.
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Bharti Hexacom IPO Recommendation

Analysts advocate traders to subscribe to the Rs 4,275 crore subject, citing the corporate’s robust parentage, established model, and presence in high-growth markets.
Marwadi Financial Services said, “Considering the FY24-annualized EPS of Rs 7.52 on a post-issue basis, the company will list at a P/E of 75.80 times with a market cap of Rs 28,500 crore, whereas its peer Bharti Airtel is trading at a P/E of 63.3 times. We assign a ‘subscribe’ rating to this IPO as it is available at a reasonable valuation compared to its peers.”

Bharti Hexacom IPO Price Band

The IPO, closing on April 5, affords shares priced between Rs 542 and Rs 570 every, with traders capable of bid for 26 shares in a single lot.

Bharti Hexacom IPO GMP

Before the difficulty launch, the corporate’s shares traded at a premium of Rs 40 within the unlisted market.

About Bharti Hexacom

Bharti Hexacom operates cellular companies in Rajasthan and the Northeast areas of India. Airtel will keep its majority stake within the subsidiary. The Northeast telecommunication circles embody Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.
The firm has a spectrum portfolio that includes a various vary of mid-band spectrum, facilitating the availability of 5G plus companies to its prospects.
For the six months ending in September, the corporate reported income of Rs 3,420 crore, in comparison with Rs 3,167 crore a 12 months earlier. However, earnings decreased from Rs 195 crore to Rs 69 crore throughout the identical interval.
The firm’s income has proven a Compound Annual Growth Rate (CAGR) of 19.51% between FY21 and FY23.
In phrases of Average Revenue Per User (ARPU), Bharti Hexacom improved from Rs 135 in FY21 to Rs 195 within the six months ending September 2023. As of September 2023, the corporate had amassed a complete of 29.1 million prospects throughout each areas.

Lead managers

SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are the book-running lead managers for the difficulty.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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