TCIL plans to sell 5-10% Bharti Hexacom stake
In an effort to maximise its returns, the state run Telecommunications Consultants India Limited ( TCIL) plans to exit from Bharti Hexacom, a subsidiary of Bharti Airtel by divesting its 15 % stake in phases. This decision has arrived after a previous sale in April 2024 where TCIL sold ₹4,275 crore at ₹570 per share at 15% of its 30% shareholding.
Initially, the government was expecting to garner ₹9,500 crore from the sale of all such 30 percent stake.
The hope of increasing value realization makes the government select a phased disposal because the share price in Bharti Hexacom has risen since the first sale. In October 2024, the last 15 per cent was $1,730 million or ₹10,300 crore at a share of ₹1,375.
The close price of Bharti Hexacom Ltd for the November 2024 was ₹1,404.05 on BSE.
There is hope that the government’s earnings from this disposal would be boosted significantly by the multi-tranche sale proposed here.
Bharti Hexacom, which offers broadband, fixed-line phone, and mobile services under the Airtel brand in Rajasthan and six northeastern states (except from Assam), is 70% owned by Bharti Airtel.
