Bharti Hexacom Ltd

(BHARTIHEXA)

Bharti Hexacom Ltd is a subsidiary company of Bharti Airtel Ltd. The company provides Cellular Mobile Telephony Services in the circles of North East and Rajasthan. They also offer cellular mobile broadband and telephone services. TCIL a public sector undertaking firm holds 30 stake in the company.Bharti Hexacom Ltd was incorporated as a joint venture company in the year 1995 under the name Hexacom India Ltd to enter cellular services for diversifying their operations. They provided Cellular Mobile Telephony Services in the circles of North East and Rajasthan pursuant to licenses granted by the Department of Telecommunications Government of India on December 12 1995 and December 19 1995. In December 2003 Bharti Airtel Ltd entered into an agreement with Telesystem Mauritius Pvt Ltd Mauritius a subsidiary of Telesystem International Wireless Inc Canada for buying their equity interest in the company for a consideration of 22.5 million.In May 7 2004 Bharti Airtel Ltd formerly known as Bharti TeleVentures Ltd acquired majority shareholding 67.5 of the company a consideration of Rs 431.07 crore. In October 2004 Bharti Airtel Ltd further acquired 1 equity stake from Fouad M T Al Ghanim Trading Cont Co Kuwait. With the acquisition of this additional 1 stake the total holding of Bharti Airtel Ltd in the company has increased to 68.5. In December 2004 the company changed their name from Hexacom India Ltd to Bharti Hexacom Ltd.During the year 200405 the company expanded their network in the existing cities and rollerout in 174 new towns and coverage is available in 230 towns A new switch was installed and the HLR capacity was increased from 310 K to 900 K with an addition of 270 BTS. They also launched value added services such as Ring back tones GPRS MMS for enhancement of VAS offerings and revenues.During the year the company commenced stateoftheart call centre and initiated various programmes for customer benefit. In March 30 2005 the company which holds a Cellular Mobile Service Provider License launched their commercial operations in NorthEast Circle.The company migrated their Cellular Mobile Service Provider License to Unified Access Service Licence in the telecom circle of Rajasthan with effect from April 10 2006. In September 14 2006 Bharti Airtel Ltd acquired 43750000 equity shares of the company for a consideration of Rs 57.50 crore thereby increasing their stake from 68.5 to 68.89.During the year 200708 the subscriber base for the company in Rajasthan increased by 112 from 1800356 to 3815628 and in NorthEast Circle by 76 from 274044 to 481499. The subscriber base for voice services increased by 75 from 11866 to 20766 and for DSL services has increased by 149 from 3659 to 9115.In February 2009 Bharti Airtel Ltd the holding company acquired 1.11 per cent stake or 2780306 equity shares in Bharti Hexacom Ltd from Mobile Telecommunications Co KSC Kuwait. With this acquisition Bharti Airtel Ltd shareholding in the company stands higher at 70 from 68.89.The company and Bharti Airtel Ltd have entered into a scheme of arrangement for transfer pursuant to demerger of North East Circle Undertaking from the company to Bharti Airtel Ltd with effect from April 1 2005 which was approved by the board. The company is in the process of filing the approved scheme in the High Court.In August 2009 the Government of India has finally approved staterun TCILs Telecommunications Consultants India exit from the company which is a joint venture with Bharti Airtel Ltd. TCIL decides to sell their 30 in the company to raise funds to be utilized for the purpose of expansion of the telecom..

Share Price: ₹1366.40 per share as on 21 Nov, 2024 04:01 PM
Market Capitalisation: ₹69,795.00Cr as of today
Listing date: 12 Apr, 2024