Bharti Hexacom IPO receives lukewarm response on Day 1, issue booked 34%; check latest GMP

Bharti Hexacom IPO subscription standing is 34%, as per BSE knowledge. The retail portion has been subscribed 48%, and NII portion has been booked 36%. The QIBs portion has been subscribed 29%.

Bharti Hexacom IPO worth band has been set at ₹542 to ₹570 per share, with a face worth of ₹5. Bids might be positioned for multiples of 26 shares, with a minimal bid of 26.

Additionally Learn: Bharti Hexacom IPO opens at this time: GMP, subscription standing, overview, different key particulars. Do you have to subscribe or not?

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QIBs have been allotted 75% of the supply, NIIs no more than 15% of the supply, and retail traders no more than 10% of the supply.

The tentative timeline for Bharti Hexacom IPO share allotment date is Monday, April 8. Refunds will start on Wednesday, April 10, and shares can be credited to allottees’ demat accounts the identical day because the refund date. Bharti Hexacom share worth is prone to be listed on BSE and NSE on Friday, April 12.

One of many main suppliers of communications options is Bharti Hexacom Ltd, an arm of Bharti Airtel Ltd. Within the Indian areas of Rajasthan and North East, which embrace the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura, it gives fixed-line phone, web, and shopper cellular companies. 

With a income market share of 40.4% within the Rajasthan circle and 52.7% within the North-East circle as of 9MFY24, the agency led each areas. The corporate function below the “Airtel” model to offer their companies. 70% of the corporate is owned by Bharti Airtel Ltd, with the remaining 30% being owned by the Authorities of India by way of Telecommunications Consultants India Ltd (TCIL).

Additionally Learn: Bharti Hexacom IPO to open tomorrow; listed here are 5 elements to contemplate earlier than investing

Bharti Hexacom IPO subscription standing

Bharti Hexacom IPO has obtained bids for 1,41,19,196 shares in opposition to 4,12,50,000 shares on supply, based on knowledge from the BSE.

The retail traders’ phase obtained bids for 36,29,886 shares in opposition to 75,00,000 shares on supply for this phase.

The NIIs portion acquired bids for 40,09,200 shares in opposition to 1,12,50,000 on supply for this phase.

The QIBs phase acquired bids for 64,80,110 shares in opposition to 2,25,00,000 on supply for this phase.

Additionally Learn: Bharti Hexacom IPO: From worth band to GMP, listed here are 10 issues to know earlier than subscribing to the difficulty

Bharti Hexacom IPO particulars

The Purple Herring Prospectus of the agency states that the Bharti Hexacom IPO consists solely of an offer-for-sale (OFS) and doesn’t embrace a contemporary concern part. Telecommunications Consultants India, the corporate’s sole promoting shareholder intends to dump 7.5 crore fairness shares, or 15% of the OFS.

In line with the corporate’s draft crimson herring prospectus (DRHP), government-owned Telecommunications Consultants had initially deliberate to promote as much as 10 crore fairness shares.

The Bharti Hexacom IPO’s guide operating lead managers are IIFL Securities Ltd., ICICI Securities Restricted, Bob Capital Markets Restricted, Axis Capital Restricted, and SBI Capital Markets Restricted. Kfin Applied sciences Restricted is the registrar of the issuance.

Bharti Hexacom IPO GMP at this time

Bharti Hexacom IPO gray market premium is +63. This means Bharti Hexacom share worth have been buying and selling at a premium of ₹63 within the gray market, based on investorgain.com.

Considering the higher finish of the IPO pricing vary and the current premium on the gray market, the Bharti Hexacom shares have been anticipated to record at a worth of ₹633 per share, which is 11.05% greater than the IPO worth of ₹570.

IPO GMP is heading upward and is anticipated to have a stable itemizing primarily based on the actions of the previous 12 classes of the grey market. In line with researchers at investorgain.com, the bottom GMP is ₹30, and the utmost GMP is ₹65.

‘Gray market premium’ signifies traders’ readiness to pay greater than the difficulty worth.

Additionally Learn: Bharti Hexacom IPO: Bharti Airtel’s subsidiary firm raises ₹1,924 crore from anchor traders forward of IPO

Disclaimer: The views and proposals above are these of particular person analysts, specialists and broking firms, not of Mint. We advise traders to examine with licensed specialists earlier than making any funding choices.

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Printed: 03 Apr 2024, 02:43 PM IST