Bharti Hexacom’s IPO to open on April 3, 2024; TCIL to sell 15 per cent share in Airtel unit

Bharti Airtel’s subsidiary Bharti Hexacom’s initial public offering (IPO) is set to open on April 3, 2024.

This will lead to Telecommunications Consultants India Limited (TCIL) divesting 15 per cent of its shares in the Airtel unit. Post the IPO, Airtel will retain its 70 per cent stake in Bharti Hexacom while TCIL’s stake will drop to 15 per cent.

In an exchange filing, according to Bharti Hexacom, anchor investor bidding would open on April 2, 2024, a day prior to the IPO opening date. Meanwhile, Bharti Hexacom’s IPO will close on April 5, 2024.