Bharti Hexacom IPO: Airtel’s subsidiary raises ₹1,924 crore from anchor investor
Bharti Airtel’s subsidairy company Bharti Hexacom, on Tuesday, said that it has raised over ₹1,923.75 crore from anchor investors ahead of its initial public offerings (IPO).
According to the exchange filing, the company allocated 3,37,50,000 shares to anchor investors at a price of ₹565 per equity share.
Also read: Bharti Hexacom IPO to open tomorrow; here are 5 factors to consider before investing
“The Board of Directors of the Company in its meeting held on April 02, 2024, in consultation with SBI Capital Markets Limited, Axis Capital Limited, BOB tapital Markets Limited, ICICI Securities Limited and IIFL Securities Limited (collectively, the “Book Running Lead Managers”), have finalized allocation of 3,37,50,000 Equity Shares to Anchor Investors at Anchor Investor Allocation Price of Rs. 570/- per Equity Share (including share premium of Rs. 565/- per Equity Share),” the company said in the filing.
The anchor round saw participation of over 97 companies, including Capital Group Asian Horizon Fund, Fidelity Funds, SBI Technology, ICICI Prudential, HDFC Mutual Fund, Abu Dhabi Investment Authority, Aditya Birla Sun Life, Axis Mutual Fund Trustee, Kotak Mahindra Trustee, Nipon Life, Morgan Stanley, Tata Mid Cap, White Oak Capital, Motilal Oswal and many more.
Also read: Bharti Hexacom IPO: Company explains the reason for reducing the issue size
The company further said, “ Out of the total allocation of 3,37,50,000 Equity Shares to the Anchor Investors, 1,38,77,630 Equity Shares (i.e. 41.12% of the total allocation to Anchor Investors) were allocated to 22 domestic mutual funds through a total of 55 schemes.”
SBI Contra, ICICI Prudential, Aditya Birla Sun Life, Axis Mutual Fund Trustee, Kotak Infrastructure, Edelweiss Trusteeship, LIC MF Large and Midcap fund were among the participants in the domestic mutual funds list.
Bharti Hexacom is poised to become the inaugural IPO of the upcoming financial year. The IPO will consist solely of an offer-for-sale by the public shareholder Telecommunications Consultants India, aiming to dilute 15 percent of its shareholding, equivalent to 7.5 crore equity shares.
Bharti Airtel, the promoter, owns a 70 percent stake in the company, with the remaining 30 percent held by Telecommunications Consultants India.
SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities have been appointed as the merchant bankers for the issue.
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Published: 02 Apr 2024, 11:46 PM IST
