SBI Capital Markets will submit the report on the valuation of Bharti Hexacom Limited, a joint venture (JV) between Bharti Airtel and Telecommunication Consultants of India (TCIL), by the end 2014.

Following the approval by the Telecom Commission for its exit from the JV in September 2013, TCIL had appointed SBI Capital Markets as the independent advisor to recommend a reserve price for its 30 per cent stake in Bharti Hexacom. TCIL has been keen on selling its minority stake in Bharti Hexacom to raise funds since the Telecom Commission had shelved its disinvestment plans citing unfavourable market condition in 2013.