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Bharti Hexacom Limited IPO Hits 1.12x on Day 2

04 April 20243 mins read by Angel One
Bharti Hexacom Limited IPO, on its second day, was subscribed 1.12x. The IPO will remain open for subscription until April 5, 2024.
Bharti Hexacom Limited IPO Hits 1.12x on Day 2
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

On Day 2 of the bidding process, Thursday, April 4, 2024, the Initial Public Offer (IPO) of Bharti Hexacom Limited was subscribed 1.12x. The retail portion was subscribed to 1.15x, while 0.82x in Qualified Institutional Buyers (QIB) and 1.71x in the Non-Institutional Investors (NII) category.

When we look at the Bharti Hexacom IPO subscription day-wise,

Date QIB NII Retail Total
Day 1

April 3, 2024

0.29x 0.36x 0.50x 0.35x
Day 2

April 4, 2024

0.82x 1.71x 1.15x 1.12x

On April 4, 2024, the shares of Bharti Hexacom were commanding a premium of ₹56 in the grey or unlisted market.

Bharti Hexacom Limited IPO opened for subscription on Wednesday, April 3, 2024, and will close on Friday, April 5, 2024.

The price band of Bharti Hexacom IPO has been fixed in the range of ₹542 to ₹570 per equity share. The face value is ₹5 per share. The lot size is 26 equity shares, where the minimum investment (retail) is ₹14,820. The IPO comprises an Offer For Sale (OFS) of 75,000,000 shares, aggregating up to ₹4,275 crore.

The object of the IPO is to carry out the Offer for Sale of up to 75,000,000 equity shares by the Selling Shareholder and achieve the benefits of listing the equity shares on the stock exchanges.

At its meeting held on April 2, 2024, the company’s board, with the book-running lead managers, finalised the allocation of 3,37,50,000 equity shares to Anchor Investors at an Anchor Investor allocation price of ₹570 per share.

About Bharti Hexacom Ltd

Bharti Hexacom Ltd (BHL) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services. The company offers its services in Rajasthan and the North East telecommunication circles in India. Bharti Hexacom Ltd comes under the brand Airtel.

During FY 2023, the company’s total income was ₹67,192 million, which is approximately 22.23% higher than the total income in FY 2022 was ₹54,940 million. In FY 2023, the company’s profit touched ₹5,492 million, which was approximately 67.21% less than ₹16,746 million in FY 2022.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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