Bharti Hexacom IPO: Anchor Round Garners Rs 1,923.7 Crore
Bharti Hexacom Ltd. has raised Rs 1,923.75 crore from anchor investors, ahead of its initial public offering.
The company allotted 3.37 crore shares at Rs 570 apiece to 97 anchor investors.
HDFC Life Insurance Co., Korean investment firm Mirae Asset and the Boston, U.S.-based Wellington Management Co. secured 2.84% each.
Nippon Life India AML, BNP Paribas, and BlackRock are among the other marquee investors in the pre-IPO round fundraising.
Twenty-two domestic mutual funds have applied through a total of 55 schemes. They have collectively netted 41.12% of the anchor portion of Rs 791 crore.
SBI Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life MF, ICICI Prudential, Tata Mutual Fund, Kotak Mutual Fund, Edelweiss Mutual Fund, and HSBC Mutual Fund are among the key investors in this category.
The leading book managers for the anchor round were ICICI Securities Ltd., SBI Capital Markets Ltd., Axis Capital Ltd., BOB Capital Markets Ltd. and IIFL Securities Ltd.
About Bharti Hexacom IPO
Bharti Hexacom Ltd. will launch its three-day initial public offering on Wednesday to raise up to Rs 4,275 crore.
The maiden issue of Bharti Airtel Ltd.'s subsidiary is a pure offer for sale by the government-owned Telecommunications Consultants India Ltd. It will offload up to 7.5 crore shares and the price band is set at Rs 542–570 per share.
The proceeds of the stake sale will go to the Government of India. Airtel will hold on to 70% stake in the company, even as TCI's shareholding will reduce to 10%. Currently, the government holds 30% stake in the company.
SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities and IIFL Securities are the book-running managers for the IPO.
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