Bharti Hexacom IPO Garners 17% Grey Market Premium
Bharti Hexacom, a subsidiary of Bharti Airtel, is set to list its IPO on April 12. The IPO is currently commanding a grey market premium (GMP) of 17% over the issue price of Rs 570, with shares trading at Rs 666 in the grey market.
Understanding Bharti Hexacom IPO Process
The IPO allotment was finalized on April 8, with refunds initiated on April 10. Investors can expect the final share allotment to be credited to their D’mat accounts on April 10. The IPO, which was entirely an offer for sale of 75 million shares, aimed to collect Rs 4,275 crore.
Bharti Hexacom’s Business and Offer Details
Bharti Hexacom, operating under the brand name Airtel, provides communication solutions including mobile, fixed, and broadband services to customers in Rajasthan and the North Eastern states of India. The IPO, open from April 3 to April 5, offered shares in a price band ranging from Rs 542 to Rs 570 per equity share.
Book-Running Lead Managers and Registrar
Axis Capital, SBI Capital Markets, ICICI Securities, Bob Capital Markets, and IIFL Securities served as the book-running lead managers for the IPO, while Kfin Technologies acted as the registrar. The IPO garnered significant interest from investors, with retail investors required to bid for a lot of 26 shares, amounting to Rs 14,820, the minimum investment threshold. Market experts closely monitored the IPO’s progress, providing insights into the stock market dynamics and investment strategies.
Company Background and Industry Outlook
Bharti Hexacom’s IPO signifies its growth trajectory and strategic positioning within the telecommunications industry. As a subsidiary of Bharti Airtel, the company plays a pivotal role in delivering communication solutions to customers across diverse geographic regions. Investors and market analysts continue to track Bharti Hexacom’s IPO listing and subsequent market performance. With ongoing updates and insights, stakeholders remain informed about the latest developments in the stock market and potential investment opportunities.
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