© Reuters.
As Bharti Airtel prepares for the anticipated initial public offering (IPO) of its subsidiary Bharti Hexacom, the telecom giant holds a substantial 70% stake in the venture, with Telecommunications Consultants India Limited (TCIL) owning the remaining equity. Bharti Hexacom, established on April 20, 1995, has emerged as a leading mobile service provider in Rajasthan and the Northeast regions of India.
The company reported robust financials for the fiscal year 2023, with substantial revenue of ₹6,719.20 crore and earnings before interest, taxes, depreciation, and amortization (EBITDA) of ₹2,925.90 crore. This financial performance is attributed to significant income growth within the company.
In preparation for its IPO slated for early next year, valued at approximately ₹20,000 crore (INR100 crore = approx. USD12 million), Bharti Airtel also has ambitious plans to expand its Airtel’s 5G Plus network. The company aims to provide comprehensive urban and selected rural coverage by March of the coming year.
Despite these growth initiatives, Bharti Airtel’s share value saw a slight decline to ₹969.10 in recent trading sessions. However, the company’s financial stability remains solid, as evidenced by its “AA+/Stable” credit ratings for debentures and top-tier “A1+” ratings from CRISIL and India Research for its commercial papers. These ratings reflect the strong financial health and credibility of Bharti Airtel in the market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here