Bharti Hexacom receives SEBI’s approval to raise funds through IPO, pegs price band at Rs 542-570 per share

Bharti Airtel’s subsidiary Bharti Hexacom has received an approval from the Securities and Exchange Board of India (SEBI) for raising funds through an initial public offering (IPO), along with the issue of Jyoti Structures Limited. Bharti Hexacom had filed its draft red herring prospectus for the IPO with SEBI earlier in January 2024. It has pegged Rs 542 to Rs 570 per share price band for its upcoming Rs 42.75 billion initial public offering (IPO). The IPO is set to open on April 3, 2024 and will lead to Telecommunications Consultants India Limited (TCIL) divesting 15 per cent of its shares in the Airtel unit.