Airtel’s subsidiary Bharti Hexacom files for IPO; government to offload 20 per cent stake through OFS

Bharti Airtel’s subsidiary Bharti Hexacom Limited has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO will be a complete offer for sale (OFS) of up to 100 million equity shares by its existing shareholders. The government, through Telecommunications Consultants India Limited (TCIL), will offload a 20 per cent stake out of the 30 per cent it currently holds in the company. Airtel has the remaining 70 per cent share.