Bharti Hexacom pegs IPO price band at Rs 542-570 a share

Kolkata: Bharti Hexacom has pegged a Rs 542-to-570 per share price band for its upcoming Rs 4,275 crore initial public offering (IPO) thqt opens April 3, and will pave the way for state-run Telecommunications Consultants India Ltd (TCIL) to divest 15% of its shares in the Bharti Airtel unit.

“The offer is being made through the book-building process, pursuant to Regulation 6(2) of Sebi’s ICDR Regulations,” Bharti Hexacom said in a public notice Tuesday. The company added that the floor price is 108.4 times the face value (Rs 5) of the equity shares on offer while the cap price is 114 times the face value.