Bharti Hexacom IPO: Company explains the reason for reducing the issue size
₹542 to ₹570 per equity share of face value of ₹5 each. The issue will open for subscription on Wednesday, April 3 and will close on Friday, April 5.
Bids can be placed for multiples of 26 shares, with a minimum bid of 26. It has set aside not less than 75% of the offer for qualified institutional buyers (QIB), not more than 15% of the offer for non-institutional institutional investors (NII), and not more than 10% of the offer for retail investors.
The Red Herring Prospectus of the firm states that the Bharti Hexacom IPO consists only of an offer-for-sale (OFS) and does not include a fresh issue component. Telecommunications Consultants India, the company's sole selling shareholder intends to sell off 7.5 crore equity shares, or 15% of the OFS.
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