On April 3, the initial share sale of Bharti Hexacom, a subsidiary of telecom provider Bharti Airtel, will open for public subscription.

The three-day first sale of stock (Initial public offering) will close on April 5, and the anchor book of the deal will open for a day on April 2, as per the Red Herring Prospectus  (RHP) documented. This will be the main Initial public offering in the fiscal year 2024-25.

The initial public offering consists solely of an offer to sell up to 7.5 million shares, or 15% of the company, from Telecommunications Consultants India Ltd., an existing shareholder. The OFS size has been diminished to 7.5 crore from 10 crore value shares arranged before. Since the Initial public offering is totally an OFS, the whole returns will go to the selling investors, and the organization won’t get any assets from the issue.

Bharti Hexacom got its observation letter on Walk 11 from the capital business sectors controller SEBI to drift the public issue. Advertiser Bharti Airtel holds a 70% stake and the excess 30% shareholding is held by state-run Media communications Experts India Ltd.

Bharti Hexacom is an Indian communications solutions provider that provides customers in Rajasthan and the north East telecommunication circles with consumer mobile, fixed-line, and broadband services.

The issue’s book-running lead managers are SBI Capital Markets Ltd., Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities. The BSE and NSE will list equity shares issued by the company.