Bharti Hexacom IPO Day 2: Subscription Status, GMP, And Other Key Details

Bharti Hexacom IPO is entirely an offer for sale (OFS) of 7.5 crore shares. The price band for the Bharti Hexacom IPO is set at ₹542 to ₹570 per share, with a minimum lot size of 26 shares.

Bharti Hexacom IPO Subscription Status

The Bharti Hexacom IPO opened for subscription on April 3, 2024, and is scheduled to close on April 5, 2024. As of 10:45 on day 2 of bidding, the IPO was subscribed 0.42 times. The retail portion was subscribed 0.64 times, whereas the Non-Institutional Investor portion was subscribed 0.52 times. The Qualified Institutional Buyers (QIBs) portion saw a subscription of 0.29 times.

The IPO has been structured to ensure broad participation across investor categories, with 30% of the shares reserved for QIBs, 15% for Non-Institutional Investors, and 10% for Retail Investors. The remaining 45% of the shares are allocated to anchor investors.

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Bharti Hexacom IPO GMP

The Bharti Hexacom IPO GMP is reported at ₹64. Based on the upper end of the IPO price band, the shares are expected to list at ₹634, indicating a premium of 11% on the listing. It is important to note that while IPO GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock’s performance on listing.

Bharti Hexacom IPO Details

The Bharti Hexacom IPO is entirely an offer for sale (OFS) of 7.5 crore shares. The price band for the Bharti Hexacom IPO is set at ₹542 to ₹570 per share, with a minimum lot size of 26 shares. The minimum investment required by retail investors is ₹14,820.

The company has successfully secured ₹180 crores from anchor investors prior to the IPO launch. The shares of the company are tentatively scheduled to be listed on both the BSE and NSE, on Friday, April 12, 2024.

About Bharti Hexacom

Founded in 1995, Bharti Hexacom is a telecommunications company that offers fixed-line telephone and broadband services primarily in Rajasthan and the Northeast telecom circles of India. The company has made significant investments, totalling ₹20,600 crore, in digital infrastructure capital expenditures to ensure preparedness for future advancements.

As of December 31, 2023, Bharti Hexacom boasts a substantial customer base of 27.1 million spread across 486 census towns. Facilitating its extensive reach, the company operates through a distribution network consisting of 616 distributors and 89,454 retail touchpoints.

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