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Bharti Hexacom Limited IPO Sees 29.88x Subscription on Closing Day

08 April 20243 mins read by Angel One
Bharti Hexacom Limited IPO Sees 29.88x Subscription on Closing Day
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

On the last day of the bidding process, Friday, April 5, 2024, the Initial Public Offer (IPO) of Bharti Hexacom Limited was subscribed to 29.88x. The retail portion was subscribed to 2.82x, while 48.57x in Qualified Institutional Buyers (QIB) and 10.51x in the Non-Institutional Investors (NII) category. The share allotment will likely take place on April 8, while its listing will take place on April 12 on both BSE and NSE.

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

Date QIB NII Retail Total
Day 1

Apr 3, 2024

0.29x 0.36x 0.50x 0.35x
Day 2

Apr 4, 2024

0.82x 1.72x 1.16x 1.12x
Day 3

Apr 5, 2024

48.57x 10.51x 2.82x 29.88x

On April 5, 2024, unlisted shares of Bharti Hexacom Ltd were trading ₹77 in the grey market.

Bharti Hexacom Limited IPO opened for subscription on Wednesday, April 3, 2024, and closed on Friday, April 5, 2024. The price band of the IPO has been fixed from ₹542 to ₹570 per equity share. The minimum investment (retail) was ₹14,820, and the lot size was 26 shares. The IPO comprises an Offer For Sale (OFS) of 75,000,000 shares, aggregating up to ₹4,275 crore.

The object of the Bharti Hexacom Limited 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.

On April 2, 2024, the company’s board and 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. During FY 2023, the company reported profit of ₹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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