Bharti Hexacom, a subsidiary of Bharti Airtel, has raised over ₹1,923.75 crore from anchor investors before its IPO. They sold 3,37,50,000 shares to these investors at ₹565 per share.
The company announced this in an exchange filing and mentioned that they finalized the allocation with the help of various firms like SBI Capital Markets Limited, Axis Capital Limited, and others.
More than 97 companies participated in this anchor round, including big names like Capital Group Asian Horizon Fund, Fidelity Funds, and SBI Technology. Out of the total shares allocated, about 41.12% went to 22 domestic mutual funds.
Some of the domestic mutual funds that took part include SBI Contra, ICICI Prudential, and Kotak Infrastructure. Bharti Hexacom’s IPO, which will be the first of the financial year, will include an offer-for-sale by Telecommunications Consultants India, aiming to dilute 15% of its shareholding.
Bharti Airtel owns 70% of the company, while the rest is held by Telecommunications Consultants India. The IPO is managed by SBI Capital Markets, Axis Capital, and others.
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