Bharti Hexacom Limited | Globe Capital Market LTD.
Bharti Hexacom Limited
Price Band
₹542 to ₹570
IPO Issue Period
April 3, 2024 to April 5, 2024
Issue Size
₹4,275.00 Cr
Face value
₹5 per share
Fresh issue
Offer for sale
₹4,275.00 Cr
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Kfin Technologies Limited
Tentative Listing Date
April 12, 2024

SBI Capital Markets Limited 
Axis Capital Limited 
Bob Capital Markets Limited 
ICICI Securities Limited 
Iifl Securities Ltd 

Bharti Hexacom Ltd. (BHL) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India, which comprises the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland and Tripura. The company offers its services under the brand ‘Airtel’. It has a distinct strategy to premiumise portfolio by acquiring and retaining quality customers and deliver an experience to them through its Omni channel approach and use of data science.
The company has an extensive distribution and service network across the regions it operates in and during the nine months ended December 31, 2023 and the last three Fiscals, it has set up 51 retail outlets and 24 small format stores to reach 90 cities, as of December 31, 2023. As of the said date, its distribution network comprised 616 distributors and 89,454 retail touch points. As of December 31, 2023, it had 422 full-time employees.

For year/ period ended ( in Cr.)

Particulars H1FY23 FY22 FY21
Total Revenue 6,719.20 5,494.00 4,704.30
Profit After Tax 549.20 1,674.60 -1,033.90
EPS 10.98 33.49 (20.68)
OPM (%) 43.90% 35.12% 24.71%
PATM (%) 8.17% 30.48% -21.98%


For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
Net Profits(Cr.)
Bharti Hexacom Ltd. 28,500 570 6.67 54.7 6,579 549
Bharti Airtel Ltd. 7,43,253 1,229 8.8 164.49 91,603 4,519
Vodafone Idea Ltd. 64,452 13 -0.66 0 42,229 -30,077


*Market cap @upper band 

• Bharti Hexacom Ltd. Has strong Parentage and Established Brand
• Building a Future Ready Network
• Extensive Distribution and Service Network
• Experienced Management Team

• To carry out the Offer for Sale of up to 75,000,000 Equity Shares by the Selling Shareholder; and
• Achieve the benefits of listing the Equity Shares on the Stock Exchanges.

The company enjoys virtual leadership in the telecom circles it is operating and is confident of maintain the lead. Investors may subscribe for the medium to long term rewards.

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