![TCIL plans to sell 30% stake in Bharti Hexacom TCIL plans to sell 30% stake in Bharti Hexacom](https://varindia.com/storage/news/uploads/2018/02/66004eaa4c58a.jpg)
Telecommunication Consultants of India (TCIL) is planning to sell its stake in Bharti Hexacom in two tranches of 15% each to meet a target set out by the Central Government. The company will sell only a 15% stake in Bharti Hexacom now and another 15% at an opportune time within the next six months. Bharti Hexacom Limited is a wholly-owned subsidiary of the telecom giant Bharti Airtel Limited.
Bharti Hexacom is involved in the telecommunication business in the North East and Rajasthan Circle. In FY 2023, Bharti Hexacom Limited reported a net profit of ₹549.2 crore.
Bharti Hexacom has also got approval for an Initial Public Offering (IPO) from the Securities and Exchange Board of India (SEBI). As per the Draft Red Herring Prospectus (DRHP), while Bharti Airtel Limited holds a stake of 70% in Bharti Hexacom Limited, which is of 35 crore equity shares, the Government of India through TCIL holds a stake of 30%, which equals 15 crore equity shares.
The state-owned TCIL will offload about 7.5 crore shares in Bharti Hexacom through the public offering.
Following the company’s valuation target range of ₹28,000 crore – ₹35,000 crore, the public sector firm would be able to achieve the expected figure by way of offloading its stake in two batches.
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