Bharti Hexacom IPO
Bharti Hexacom IPO — date, price band, lot size & details 2024
Bharti Hexacom listed on 12 Apr 2024 at ₹755, 32.5% above the ₹570 issue price.
Bharti Hexacom provides Airtel mobile, fixed-line and broadband services in the Rajasthan and North East telecom circles. Its total income was Rs 6,719.20 crore in FY2023.
Stock price
Bharti Hexacom is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 03 Apr 2024
- Close 05 Apr 2024
- Allotment 08 Apr 2024
- Refund/credit 10 Apr 2024
- Listing 12 Apr 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 3 to 5 Apr, 2024 |
|---|---|
| Price Band | ₹542 – ₹570 |
| Face Value | ₹5 |
| Lot Size | 26 Shares |
| Issue Size | ₹4275 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,820 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 26 shares at the ₹570 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 26 | ₹14,820 |
| Retail (max) | 13 | 338 | ₹1,92,660 |
| S-HNI (min) | 14 | 364 | ₹2,07,480 |
| S-HNI (max) | 67 | 1,742 | ₹9,92,940 |
| B-HNI (min) | 68 | 1,768 | ₹10,07,760 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 4,704.30 crore in FY2021 to Rs 6,719.20 crore in FY2023.
- 02It had 40.4% revenue market share in Rajasthan and 52.7% in the North East in nine months to December 2023.
- 03It is backed by its promoter Bharti Airtel, which holds 70%, and uses the Airtel brand and network.
- 04Net worth grew from Rs 1,898.70 crore on 31 March 2021 to Rs 3,978.80 crore on 31 December 2023.
- 05Bharti Airtel did not sell any shares and kept 70% after the issue.
Risks · 5
- 01The whole Rs 4,275 crore issue was offer for sale by TCIL, so no money went to the company.
- 02The pre-issue P/E was 51.89 at the upper band of Rs 570, based on EPS of Rs 10.98.
- 03Profit fell from Rs 1,674.60 crore in FY2022 to Rs 549.20 crore in FY2023.
- 04Total borrowing was Rs 6,253.00 crore on 31 December 2023, and telecom needs heavy ongoing spending on spectrum and networks.
- 05The business is limited to 2 telecom circles, so it cannot grow outside them.
Three years of numbers
All figures in ₹ crore, as reported in the Bharti Hexacom offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 19,603.00 | 18,252.90 | 16,674.30 | 15,003.50 |
| Total Income | 5,420.80 | 6,719.20 | 5,494.00 | 4,704.30 |
| Profit After Tax | 281.80 | 549.20 | 1,674.60 | 1,033.90 |
| NET Worth | 3,978.80 | 3,972.20 | 3,573.20 | 1,898.70 |
| Reserves and Surplus | 4,166.10 | 3,959.50 | 3,410.50 | 1,736.00 |
| Total Borrowing | 6,253.00 | 6,269.30 | 7,198.30 | 5,975.20 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Bharti Hexacom RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Bharti Hexacom IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹10.98 | ₹7.51 |
| P/E Ratio (x) | 51.89 | 75.85 |
| Market Cap at Offer Price (₹ Cr) | ₹14,628.96 | ₹21,388.28 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹570 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Bharti Hexacom IPO will be updated shortly.
About the company
It serves the Rajasthan circle and the North East circle, which covers Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland and Tripura. As per CRISIL, its revenue market share in the nine months to 31 December 2023 was 40.4% in Rajasthan and 52.7% in the North East.
Its promoter is Bharti Airtel Limited, which held 70.00% before the issue.
The IPO was Rs 4,275 crore and was entirely an offer for sale by Telecommunications Consultants India Limited, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Bharti Hexacom IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
70 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Kalyan Jewellers India (-15.0%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
BOB Capital Markets Ltd
9 issues handledBest listing: P N Gadgil Jewellers (+72.9%). Weakest: Kalyan Jewellers India (-15.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Bharti Hexacom?
The current Grey Market Premium is ₹93, or 16% over the issue price.
What is the Bharti Hexacom IPO price band?
₹542 to ₹570, on a face value of ₹5.
When is the allotment?
The basis of allotment is 8 April 2024, with listing on 12 April 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
