Bharti Hexacom IPO – According to reports, Bharti Airtel has begun the process of preparing its subsidiary Bharti Hexacom for an initial public offering (IPO). According to CNBC TV18, Bharti Airtel, which owns 70% of the arm, plans to list it in early 2024. The telecom operator is said to have hired investment bankers for the IPO, which is expected to fetch around Rs 20,000 crore.
The remaining 30% of the company’s equity share capital is owned by the government of India through Telecommunication Consultants of India Limited (TCIL). Bharti Hexacom, founded on April 20, 1995, is a telecommunications company operating in Rajasthan and the North East Circle.
According to the company’s website, it is the largest mobile telephony service provider in Rajasthan and the North Eastern region, and it also provides fixed line and broadband services in Rajasthan.
The Bharti Airtel arm reported a positive growth in income in its FY23 annual report, which was primarily attributed to an increase in revenue. For the fiscal year ended March 31, 2023, revenue and Ebitda were Rs 6,719.20 crore and Rs 2,925.90 crore, respectively. This was in comparison to revenue of Rs 5,494 crore and Rs 1,902.80 crore.
Bharti Hexacom IPO
According to its annual report, Bharti Hexacom plans to provide 5G services to all urban areas and a few pockets of rural areas by March 2024. According to Airtel’s annual report, 5G Plus offers up to 30 times faster download speeds than 4G, and the 5G handset ecosystem is gradually evolving with more options for customers at affordable price points.
“In comparison to last year, the credit rating of the Company has remained the same, i.e. “AA+/Stable” for the Debentures issued by the company.” Instruments with this rating are thought to have a high degree of safety in terms of timely servicing of financial obligations. These instruments have a very low credit risk.