Others

Other Deals

Government to raise Rs.7,000-Cr from stake sale in Bharti Hexacom

Economic Times  

The Department of Telecommunications (DoT) is planning to raise INR 7,000 crore by selling a 30% stake in state-owned Telecommunications Consultants India Limited (TCIL) in Bharti Hexacom, an unlisted subsidiary incorporated in 1995 to offer telephony services in Rajasthan and northeast circles. SBI Caps has been roped in for valuation and completion of transaction by TCIL. Bharti Hexacom, as a part of the arrangement, will opt for an IPO upon regulatory approvals. The company is a joint venture between Bharti Airtel, which owns a 70% stake.