Bharti Airtel’s subsidiary Bharti Hexacom has pegged Rs 542 to Rs 570 per share price band for its upcoming Rs 42.75 billion initial public offering (IPO).
The IPO is set to open on April 3, 2024 and will lead to Telecommunications Consultants India Limited (TCIL) divesting 15 per cent of its shares in the Airtel unit.
The company added that the floor price is 108.4 times the face value (Rs 5) of the equity shares on offer while the cap price is 114 times the face value.
Furthermore, 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 addition, the IPO will close on April 5, 2024.
