Airtel initiates IPO process for its subsidiary Bharti Hexacom

Bharti Airtel has initiated the preliminary stages of the IPO for its subsidiary, Bharti Hexacom. Airtel owns a 70 per cent stake in the company, while the government owns the remaining 30 per cent through Telecommunications Consultants India Limited (TCIL). The aim of the IPO is to provide a partial or complete exit for TCIL. The government expects to fetch around Rs 100 billion from the sale of its 30 per cent stake in Bharti Hexacom. Meanwhile, Airtel is likely to retain its 70 per cent stake in the company.