India's second-largest telecom service provider Bharti Airtel will call in March 2026 the final tranche of about Rs 15,741 crore from its 2021 rights issue of Rs 21,000 crore, proceeds from which will be used towards retiring majority of non-government-related debt.
On average, stocks that debuted last year are down 37 per cent from their peak levels.
Sunil Mittal-owned Bharti group on Friday announced it would buy 27.5 per cent stake of Telesystem International Wireless of Canada in Hexacom, a cellular telecom operator in Rajasthan.
Given the ongoing economic turmoil, the DEA has raised concerns that the government may not be able to get the right value for its stake. TCIL has been seeking an exit route for over two years. It first wanted to get the company listed so that it could exit. However, the proposal was turned down by Bharti Airtel, which has 70 per cent stake.
Bharti Airtel is expected to see its highest revenue growth, and subscriber addition during the third quarter (October-December) of FY25 among telcos, said analysts. The telco's top line in Q3 may see the fastest sequential growth at 5 per cent compared to 3 per cent for Reliance Jio and Vodafone Idea (Vi). Airtel's annual mobile revenue growth would rise to 16 per cent, IIFL Capital said in an analyst note.
Telecom Consultant India Ltd has decided not to pick up 67.5 per cent stake in Rajasthan cellular operator Hexacom, thereby setting the stage for Bharti to acquire majority equity from Shyam Group.
TCIL has 30 days to decide whether it wants to block Bharti's second attempt to acquire stake in Hexacom by exercising its right of first refusal, and the board of the state-owned company would meet shortly to take a view on the issue.
Bharti Airtel on Monday reported a 168 per cent year-on-year rise in consolidated net profit to Rs 3,593 crore for the September quarter, and the company unveiled top-level changes, including Gopal Vittal moving into the role of executive vice chairman on January 1, 2026. India's second-largest telco - that competes with Reliance Jio and Vodafone Idea in the Indian telecom market - clocked quarterly revenues of Rs 41,473 crore, 12 per cent higher than the year-ago period, aided by strong momentum in India and growth in Africa.
Bharti Group on Monday entered into an agreement with Shyam Group to acquire its entire 67.5 per cent stake in Hexacom, a cellular operator in Rajasthan, for a consideration of Rs 430 crore.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
This year's tally is the second best ever after 2022 when 16 firms raised Rs 40,311 crore, led by LIC's biggest-ever IPO.
Shares of Avenue Supermarts (DMart) have rallied 15 per cent in the past month, even as the benchmark National Stock Exchange Nifty has remained flat. The stock has garnered favourable commentary from both fundamental and technical analysts after three years of poor performance. "DMart has reached its first 52-week high since October 2021, taking off from solid base formations.
The number of dematerialised (demat) accounts required to hold shares and other securities in electronic format rose by 3.1 million in April, bringing the total tally to a fresh record of 154.5 million. Since December last year, the new additions have consistently remained above the 3 trillion mark, a sign that the stock markets continue to attract new investors despite a spike in volatility.
Bharti Hexacom, a joint venture between Bharti Airtel and TCIL, offers mobile services in Rajasthan. Bharti owns a 70 per cent stake, while the remaining 30 per cent is held by state-run Telecom Consultants of India.
Airtel had previously responded to the DoT's order by offering to pay Rs 10,000 crore by February 20 and the remaining before March 17. Airtel owes nearly Rs 35,586 crore, including licence fee and spectrum usage charge, to the government.
Bharti Televentures on Thursday announced plans to provide GSM services to six eastern and north-eastern states as well as to Andaman & Nicobar Islands, in two phases.
Even as the government deferred the decision to enhance foreign investment limit in telecom, Sunil Mittal-owned Bharti Group said on Thursday that its offer to buy Canadian TIW's 27.5 per cent stake in Hexacom has been terminated
A bench headed by Justice Arun Mishra declined to accept the proposal given by senior advocate Mukul Rohatgi, appearing for Vodafone, after he mentioned the matter. Rohatgi said they are willing to pay Rs 2,500 crore today (Monday) and another Rs 1,000 crore by Friday but no coercive action be taken against the company. He urged the bank guarantee deposited with the government by Vodafone should also not be encashed.
With this acquisition, Airtel will be second company, after Reliance Jio, in the country to have pan-India presence in 2300 Mhz band
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