Day 1 of Bharti Hexacom’s IPO saw a lackluster reaction; issue booked 34%; view the most recent GMP.
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Initial Public Offering (IPO) of Bharti Hexacom:
The company offers communications solutions in Rajasthan and Northeast India. 25% went to NIIs, 10% went to individual investors, and 75% went to QIBs. The price per share for the IPO is between ₹542 and ₹570. The anticipated listing price of ₹633 per share is indicated by the GMP of +63.
Status of Bharti Hexacom’s IPO subscriptions: Subscriptions for the Bharti Hexacom IPO opened today, Wednesday, April 3, and the company is off to a cautious and steady start in a flat market. The IPO of the subsidiary business of Bharti Airtel is set to conclude on Friday, April 5. Qualified institutional buyers (QIBs) and non-institutional investors (NIIs) are joining retail investors in their steady subscription to the offering.
BSE data indicates that 34% of subscribers to the Bharti Hexacom IPO have so far acted. 36% of the NII component has been booked, while 48% of the retail portion has been subscribed. 29% of subscribers have accessed the QIBs section.
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The pricing range for the Bharti Hexacom initial public offering (IPO) is ₹542 to ₹570 per share, with a ₹5 face value. There is a minimum bid of 26 and bids can be placed for multiples of 26 shares.
Bharti Hexacom IPO details.
Seventy-five percent of the offer has been allotted to QIBs, fifteen percent to NIIs, and ten percent to retail investors.
The Bharti Hexacom IPO share allotment date is tentatively set for Monday, April 8. The shares will be credited to the demat accounts of the allottees on the same day as the reimbursement date, which is Wednesday, April 10. On Friday, April 12, the share price of Bharti Hexacom is probably going to be posted on the BSE and NSE.
Bharti Hexacom Ltd., a subsidiary of Bharti Airtel Ltd., is one of the top suppliers of communications solutions. It offers fixed-line phone, internet, and consumer mobile services in the Indian regions of Rajasthan and North East, which comprise the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.
As of 9MFY24, the company topped both areas with revenue market shares of 40.4% in the Rajasthan circle and 52.7% in the North-East circle. The business offers its services under the “Airtel” name. Bharti Airtel Ltd owns 70% of the business, with the Government of India owning the other 30% through Telecommunications Consultants India Ltd (TCIL).
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Day 1 of Bharti Hexacom’s IPO saw a lackluster reaction; issue booked 34%; view the most recent GMP.
Status of Bharti Hexacom’s IPO subscription
According to BSE statistics, bids for 1,41,19,196 shares have been received for the Bharti Hexacom IPO, out of the 4,12,50,000 shares that are being offered.
Out of the 75,00,000 shares that were up for grabs, bids were received for 36,29,886 shares in the retail investors’ category.
Bids were received for 40,09,200 shares of the NIIs part, whereas 1,12,50,000 shares were offered for this section.
64,80,110 shares were bid on for the QIBs category, out of the 2,25,00,000 shares that were offered.
Bharti Hexacom IPO details
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The company’s Red Herring Prospectus claims that there is no fresh issue component to the Bharti Hexacom IPO and that it is just an offer-for-sale (OFS). The company’s single selling stakeholder, Telecommunications Consultants India, plans to sell off 7.5 crore equity shares, or 15% of the OFS.
In its initial proposal, government-owned Telecommunications Consultants was going to offer up to 10 crore equity shares, according to the company’s draft red herring prospectus (DRHP).
IIFL Securities Ltd., ICICI Securities Limited, Bob Capital Markets Limited, Axis Capital Limited, and SBI Capital Markets Limited are the book running lead managers for the Bharti Hexacom IPO. The registrar of the issue is Kfin Technologies Limited.
Today’s Bharti Hexacom IPO GMP.
The gray market premium for Bharti Hexacom’s IPO is +63. According to investorgain.com, this shows that the price of Bharti Hexacom shares were selling at a premium of ₹63 on the grey market.
Bharti Hexacom shares were expected to list for ₹633 per share, 11.05% higher than the IPO price of ₹570, based on the top end of the IPO pricing range and the current premium on the grey market.
IPO GMP is on the rise and is anticipated to have a strong listing based on the activities of the last 12 gray market sessions. The greatest GMP is ₹65, while the lowest GMP is ₹30, per researchers at investorgain.com.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.