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DoT seeks clarification on the equity structure of Bharti Hexacom

May 15, 2006
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The Department of Telecommunications (DoT) has sought clarifi cation on the equity structure of Bharti Hexacom with regard to the total number of shares of the company. The issue came up after Bharti and Shyam (Hexacom's original promoter) bid Rs 1.25 billion and Rs 1.5 billion respectively for the 30 per cent stake held by Telecom Consultants of India Limited (TCIL). Subsequent to the bids, Hexacom had submitted its equity structure to DoT.

According to DoT's records, however, there were a total of 177,408,000 shares in Hexacom instead of the 179,200,000 reported by the company, thus necessitating a clarification before TCIL can sell its stake. The Bharti Group currently holds 67.5 per cent stake in the company, while TCIL holds 30 per cent.

 
 
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