Bharti Hexacom, incorporated on April 20, 1995, serves as a communications solutions provider, offering consumer mobile services, fixed-line telephone, and broadband services. The company caters to customers in the Rajasthan and North East telecommunication circles in India, covering states such as Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. Its services are provided under the renowned brand name 'Airtel'.
| Bidding Dates |
|---|
| 03 Apr 2024 - 05 Apr 2024 |
| Subscription |
|---|
| 29.88x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,092 | 1 | 13 | 26 | 75.0 M | ₹542 - ₹570 | 55 % | ₹40650.0 M - ₹42750.0 M | RHP DOC |
Bharti Hexacom IPO SUBSCRIPTION STATUS
05 Apr '24Bharti Hexacom IPO overall subscription rate was 29.88 times the total available shares
Bharti Hexacom IPO retail subscription rate was 2.83 times in the retail segment
Bharti Hexacom IPO non-institutional investor subscription rate was 10.52 times in the non-institutional investor category
Bharti Hexacom IPO Qualified Institutional Bidder subscription rate was 48.57 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
05 Apr 2024 (Day 3) | 2.83x | 10.52x | 48.57x |
04 Apr 2024 (Day 2) | 1.15x | 1.71x | 0.82x |
03 Apr 2024 (Day 1) | 0.48x | 0.36x | 0.29x |
Bharti Hexacom FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 2,818.0 | 52,208.0 | 29,303.0 | 13,728.0 | 49.4% |
| 9MFY23 | 3,473.0 | 48,465.0 | 43,530.0 | 37,457.0 | 43.1% |
| FY23 | 5,492.0 | 65,790.0 | 51,084.0 | 41,693.0 | 43.9% |
| FY22 | 16,746.0 | 54,052.0 | 12,580.0 | -758.0 | 35.1% |
| FY21 | -10,339.0 | 46,023.0 | 15,172.0 | 649.0 | 24.7% |
Bharti Hexacom IPO SUBSCRIPTION STATUS DETAILS
Bharti Hexacom had 75.0 M shares on offer
Bharti Hexacom IPO offer price was in the range ₹542 - ₹570
Bharti Hexacom IPO minimum Investment was ₹14092
Bharti Hexacom IPO issue size was ₹ 40650.0 M - ₹ 42750.0 M
Bharti Hexacom had a minimum lot size of 26 Shares per application
Bharti Hexacom NUMBER OF SHARES ON OFFER
Bharti Hexacom IPO IMPORTANT DATES
| Issue Open Date | 03 Apr 2024 |
| Issue close Date | 05 Apr 2024 |
| Allotment Date | 08 Apr 2024 |
| Refund Date | 10 Apr 2024 |
| Demat Account Credit Date | 10 Apr 2024 |
| Listing Date | 12 Apr 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Bharti Hexacom Allotment Status | Exchange |
Bharti Hexacom IPO subscription opened on 03 Apr 2024, and closed on 05 Apr 2024
IPO allotment for Bharti Hexacom was finalized on Monday, 08 Apr 2024
IPO listing for Bharti Hexacom was on NSE and BSE on Friday, 12 Apr 2024
Bharti Hexacom IPO LISTING GAINS
| Issue Price (adjusted) | 570.0 |
| Listing Open Price | 755.0 |
| Listing Close Price | 813.3 |
| Listing Gain% | 32.5% |
| Current Gain% | 164.4% |
Bharti Hexacom Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bharti Hexacom Ltd. | 1507 | 75350 | 41.3 | 1.3 | 7.8 | 24.2 | 9.1 | 9577.6 | 9.7 | 1733.2 | 16 | 36.5 | 32.8 |
| Indus Towers Ltd. | 368 | 97084.4 | 13.6 | -0.5 | 3 | 18 | 10 | 32970.1 | 6.7 | 7144.9 | -28.1 | 27.1 | -26.6 |
| Tata Communications Ltd. | 1739.4 | 49575.8 | 52.4 | -1.2 | 1.9 | 29 | 3.5 | 25104.4 | 8 | 1001.6 | -45.5 | 33.2 | -44.2 |
| Suyog Telematics Ltd. | 852 | 998.3 | 15.8 | 0.3 | 4.5 | 12.9 | 6.7 | 227.6 | 13 | 63.1 | 55.5 | 53.8 | 54.4 |
| OnMobile Global Ltd. | 68.3 | 726.3 | -64.5 | -0.9 | 1.4 | -1.8 | -1.1 | 571.8 | -1.1 | -11.3 | 72 | -1.1 | 72.1 |
| SAR Televenture Ltd. | 116 | 581.7 | 8.1 | 7.5 | 6.5 | 529 | 48.5 | 71.8 | 53.1 | 14.3 |
Bharti Hexacom INFORMATION ON IPO ISSUE
About Bharti Hexacom
Bharti Hexacom, incorporated on April 20, 1995, serves as a communications solutions provider, offering consumer mobile services, fixed-line telephone, and broadband services. The company caters to customers in the Rajasthan and North East telecommunication circles in India, covering states such as Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. Its services are provided under the renowned brand name 'Airtel'.
Object of the Issue
- To carry out the offer for sale of up to 75,000,000 equity shares by the selling shareholder
- To achieve the benefits of listing equity shares on the stock exchanges
Bharti Hexacom - PROMOTERS
| Name |
|---|
| Bharti Airtel Ltd |
Bharti Hexacom Book running lead manager
SBI Capital Markets Limited
bhl.ipo@sbicaps.com
Axis Capital Limited
bhartihexacom.ipo@axiscap.in
BOB Capital Markets Limited
bhl.ipo@bobcaps.in
ICICI Securities Limited
bhartihexacomipo@icicisecurities.com
IIFL Securities Limited
bhartihexacom.ipo@iiflcap.com
Bharti Hexacom Registrar to the offer
Kfin Technologies Limited
bhl.ipo@kfintech.com
Bharti Hexacom Strengths
Large customer base
The company offers consumer mobile services, fixed-line telephone, and broadband services to customers in Rajasthan and the North East telecommunication circles in India. As of 9MFY24, it had a presence in 486 census towns and served an aggregate of 27.1 million customers
Strong parentage
Airtel owns 70% of the outstanding equity share capital of the company. Airtel is a global communications solutions provider with a customer base of over 500 million across 17 countries in South Asia and Africa
Extensive distribution
The company has an extensive sales and distribution network covering both rural and urban areas in the Rajasthan and North East circles. As of 9MFY24, this network is serviced by 616 distributors, and the company operates 75 stores
Bharti Hexacom Risks
Outstanding legal proceedings
The company and its promoters are involved in outstanding legal proceedings. Adverse outcomes in any of these proceedings may negatively impact the company's reputation, business, financial condition, and results of operations
Incurred significant indebtedness
The company has accrued substantial indebtedness, requiring it to service this debt and adhere to lenders' covenants to prevent defaulting on the borrowings and encountering refinancing risk. Any defaults could have adverse effects on the business and profitability
Incurred losses
The company has experienced losses in previous periods and may not attain or maintain profitability in the future
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4,275.0 crore, of 75,000,000 shares.
The promoter of the company is Bharti Airtel Ltd.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 542.0 - 570.0.
The IPO application opens on Apr 03, 2024 and closes on Apr 05, 2024.
The minimum lot size for the IPO is 26. The maximum lot size for the IPO is 338.
For all category investors, the minimum application amount for this IPO is Rs. 14,092.0, the maximum value for this IPO is Rs 192,660.0.
This IPO will be allotted on Apr 08, 2024.
The refund will be credited to your account on Apr 10, 2024.
The allotted shares will be credited to your demat on Apr 10, 2024.
Bharti Hexacom Ltd.’s shares listed on the stock exchanges on Apr 12, 2024.