Bharti Hexacom Ltd. IPO

Bharti Hexacom Ltd.

IPO Listing Details

Listed On


Listed On

Issue Price


Issue Price

Listing Price


Listing Price

Listing Gains

+₹185.20 (+32.49%)

Listing Gains

IPO Details

Bidding Dates

03 Apr - 05 Apr '24

Bidding Dates

Min. Investment


Min. Investment

Lot Size


Lot Size

Price Range

₹542 - ₹570

Price Range

Issue Size

4,065 Cr

Issue Size

Subscription Rate

  • Retail Individual Investor
  • Non-Institutional Investor
  • Qualified Institutional Buyers
  • Employees

About Company

Bharti Hexacom Limited (BHL) was established in 1995 and offers fixed-line and broadband services to consumers in Rajasthan and the Northeast telecom regions of India. States like Rajasthan, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura are among those where the company offers its services. To be prepared for the future, the corporation had invested ₹206 billion in capital expenditures for digital infrastructure as of December 31, 2023. The corporation served 27.1 million customers in 486 census localities as of December 31, 2023. The distribution network included 89,454 retail touchpoints and 616 distributors as of December 31, 2023. The company had 19,144 thousand data clients as of December 31, 2023, of which 18,839 thousand were on 4G and 5G networks.

Important Dates - Bharti Hexacom IPO

Application opens on 3rd April 2024
Last date of application 5th April 2024
Date of Allotment 8th April 2024
Refund begins from 10th April 2024
Credit of shares to Demat 10th April 2024
Listing date 12th April 2024

Why should you invest in Bharti Hexacom Ltd. IPO?

With a range of digital products to promote customer interaction and unique, personalised solutions via family and converged plans under the Airtel Black offer, the business has improved its revenue market share steadily over the last 3 fiscal years. BHL employs judicious cost optimisation strategies to boost earnings and preserve a productive capital structure with a good leverage position. The business makes consistent investments in technology development, network growth, and wise spectrum use. BHL had made capital expenditure investments of ₹206 billion in its future-ready digital infrastructure as of December 31, 2023. Because of its vast digital infrastructure, depth of experience, and customer-focused digital offerings, it also benefits greatly from its partnership with Airtel. 

30% of BHL's outstanding equity share capital is owned by the Government of India, via Telecommunications Consultants India Limited. The company's primary areas of expertise include switching, transmission systems, cellular services, e-Governance, 4G/5G, FTTH, VOIP, Wi-Fi surveillance, cyber security, and consulting services for civil construction and project management. Its other areas of expertise include information technology and networking solutions.

As of December 31, 2023, BHL served 27.1 million consumers in both rings and was present in 486 census towns. From 33.1% on March 31, 2021, to 35.0% on December 31, 2023, its customer market share increased steadily in Rajasthan; in the North East, it increased from 43.6% to 49.8% between the same dates. As of December 31, 2023, it held the top spot in the North East circle with 6.4 million Visitor Location Register (VLR) users and a 52.3% market share, and the second-highest number in the Rajasthan circle with 23.2 million consumers and a 38.7% VLR market share. 


Bharti Hexacom IPO Grey Market Premium

Date GMP
28th March Rs.37
27th March Rs.40
26th March Rs.30


Financial Snapshot - Bharti Hexacom IPO

Check out the financial performance of Bharti Hexacom for recent years:

Financial Year Total Assets Total Revenues Net Profit
March 2021 Rs 15,003.50 crore Rs 4,704.30 crore Rs -1,003.90 crore
March 2022 Rs 16,674.30 crore Rs 5,494.00 crore Rs 1,674.60 crore
March 2023 Rs 18,252.90 crore Rs 6,719.20 crore Rs 549.20 crore

Bharti Hexacom Ltd. IPO - SWOT Analysis


  1. Established Brand: It is a part of the Bharti Group, a leading conglomerate in India.
  2. Extensive Network: Wide coverage across Rajasthan, offering reliable telecom services.
  3. Diversified Portfolio: Offers a range of services including mobile, broadband, and enterprise solutions.
  4. Customer Loyalty: Strong customer base and brand loyalty due to quality services.
  5. Technological Advancements: Invests in advanced technologies to enhance network capabilities and service offerings.


  1. Regional Presence: Limited geographical presence primarily in Rajasthan, potentially limiting market reach.
  2. Competition: Faces intense competition from other telecom operators in the region.
  3. Infrastructure Challenges: Rural areas may face infrastructural limitations affecting service quality and expansion.
  4. Dependence on Telecom Industry: Vulnerable to fluctuations in the telecom industry and regulatory changes.
  5. Limited Innovation: Relatively slower in introducing new services and innovations compared to competitors.


  1. Expansion: Opportunity to expand geographically into other regions within India.
  2. Rural Penetration: Potential for growth by focusing on rural market segments with tailored solutions.
  3. Digitalization: Increasing demand for digital services presents opportunities for offering innovative solutions.
  4. Strategic Partnerships: Collaborations with content providers or technology firms for bundled services.
  5. 5G Implementation: Embracing 5G technology to offer faster and more advanced services.


  1. Regulatory Changes: Changes in telecom regulations could impact operations and profitability.
  2. Price Wars: Intense competition leading to price wars and margin pressure.
  3. Technological Disruptions: Rapid advancements in technology could render existing infrastructure obsolete.
  4. Economic Factors: Fluctuations in the economy affecting consumer spending and investment in telecom services.
  5. Security Concerns: Increasing cyber threats pose risks to data privacy and network security.

How to apply for Bharti Hexacom Ltd. IPO?

You can apply for the Bharti Hexacom Ltd. IPO in these ways:

Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.

Demat Account

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Bharti Hexacom Ltd. IPO FAQs

What are the opening and closing dates for Bharti Hexacom Limited?

Bharti Hexacom Limited IPO will open for subscription on April 3, 2024 and close on April 5, 2024.

What is the price band for Bharti Hexacom Limited?

The price band for Bharti Hexacom Limited is ₹542 to ₹570 per share.

What is the minimum and maximum lot size for Bharti Hexacom Limited?

The minimum lot size is 26 shares.

Who are Bharti Hexacom Limited's lead managers?

SBI Capital Markets Limited, Axis Capital Limited, Bob Capital Markets Limited, ICICI Securities Limited, and IIFL Securities Limited are the Book Running Lead Managers (BRLM) to the issue.

Who is the registrar of the issue?

Kfin Technologies Limited is the registrar for Bharti Hexacom Limited IPO.

When will the Bharti Hexacom Limited allotment take place?

The finalization of the basis of allotment for Bharti Hexacom Limited will be done on April 8, 2024, and the allotted shares will be credited to investors’ demat accounts by April 10, 2024.

When and where will the Bharti Hexacom Limited shares be listed?

The equity shares of Bharti Hexacom Limited are anticipated to be listed on April 12, 2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).


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