Shardul Amarchand Mangaldas advises on the IPO by Bharti Hexacom Limited (a subsidiary of Bharti Airtel Limited) of approximately ₹ 42,750 million

April 19, 2024

Shardul Amarchand Mangaldas advised SBI Capital Markets Limited, Axis Capital Limited, BOB Capital Markets Limited, ICICI Securities Limited and IIFL Securities Limited (collectively, Book Running Lead Managers) on the initial public offering by Bharti Hexacom Limited of 75,000,000 equity shares aggregating to approximately ₹ 42,750 million.  The shares were listed on the Bombay Stock Exchange of India Limited and the National Stock Exchange of India Limited on April 12, 2024.

The IPO was subscribed over 29.88 times overall. The IPO was part of Government of India’s disinvestment plan and Telecommunications Consultants India Limited (a wholly owned Government of India public sector enterprise under the administrative control of the Department of Telecommunications, Ministry of Communications and Information Technology, Government of India) divested 15% of their shareholding in the Company through the IPO.

The transaction team was led by Prashant Gupta, Partner (National Practice Head – Capital Markets); Sayantan Dutta, Partner; Devi Prasad Patel, Partner; Ajo Jomy, Senior Associate; Debolina Mitra, Associate; Sridutt Mishra, Associate; and Jheel Bhargava, Associate.

Special thanks to Abhiroop Datta, Partner, Sanjeev Chowdhary, Senior Associate and Adamya Vikrant, Senior Associate.