Many traders invest in stock markets and show great interest in buying lots when Initial Public Offerings (IPO) are coming. Last year, when Tata Technologies IPO came after almost 20 years from the Tata company, investors responded tremendously, delivering bumper returns to them. Among the upcoming IPOs, preparations have already started for another one from Airtel Group.
This is the first IPO coming from Bharti Group after almost a decade, and it will be for a subsidiary of leading telecom company Bharti Airtel, known as Bharti Hexacom. Through IPO, they are targeting to raise Rs. 4300 crore, and the subscription is expected to start in the first week of April.
Bharti Hexacom provides fixed line telephone and broadband services, including mobile services under the Airtel brand, to users in several North Eastern states, including Rajasthan. SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are acting as book-running lead managers for this IPO.
In the financial year 2021-22, Hexacom Company’s profit was Rs. 1951.1 crores, and in the previous financial year 2022-23, the net profit declined by 67.2% to Rs. 549.2 crores. However, the income from operations increased by 21.7% to Rs. 6579 crores.
