Bharati Hexagon IPO

Bharti Airtel's subsidiary, Bharti Hexacom Ltd., is undertaking an Initial Public Offering (IPO) to facilitate the divestment of 50% of Telecommunications Consultants India Ltd. (TCIL)'s 30% stake in the company. TCIL, a central Public Sector Undertaking (PSU), will be offloading shares through an Offer for Sale (OFS). The price range for the issue has been set at ?542 to ?570 per equity share with a face value of ?5. At the upper price band, the OFS of up to 75 million equity shares is expected to raise ?4,275 crore. The subscription window for the IPO will be open from April 3rd to April 5th.