Bharti Airtel's arm Bharti Hexacom has received capital markets regulator Sebi's nod to mobilise funds through an initial public offering (IPO). The IPO will not have any fresh issuance of equity shares, and since it is an offer for sale or OFS, Bharti Hexacom will not receive any proceeds from the issue.
Under the OFS, 10 crore equity shares will be offloaded by Telecommunications Consultants India Ltd. The offer represents 20 per cent of the paid-up equity share capital of Bharti Hexacom.
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