The coming week should be quite interesting for stock market investors. The interest will come from Bharti Hexacom's IPO. Apart from the fact that it is a unit of one of India's largest telecom companies, Bharti Airtel, Bharti Hexacom's IPO is also in the limelight simply because it is the first public issue of the new financial year 2024-25. It could well provide clues as to how the rest of the year might unfold. The subscription rate for Bharti Hexacom's IPO stood at 29.88, but only after it received an overwhelming response, albeit not from retail investors, on the last day of the bidding, Friday.
Bharti Hexacom IPO Allotment, GMP and Listing Date
Bharti Hexacom IPO allotment, GMP and listing date: Read all about it now. (Representative photo) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}}
According to the rules, the listing date could well be April 10, as the last day for subscription was Friday, followed by the weekend. However, what most investors would keep an eye on is the allotment date for Bharti Hexacom's IPO. This is expected to happen on April 8th. Another important thing that investors would keep an eye on is the IPO GMP of Bharti Hexacom. This was reported at Rs. 62 on April 6, according to a Live Mint report.
Bharti Hexacom IPO in numbers
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NSE data showed that Bharti Hexacom's IPO received offers for 1,23,24,83,460 shares. The shares offered were 4,12,50,000. The price range has been fixed at Rs. 542-570 per share.
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About 75 percent of Bharti Hexacom's issue size was reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors and 10 percent for retail investors.
Bharti Airtel's stake in Bharti Hexacom
Bharti Hexacom's IPO is worth it ₹4,275 crore is entirely an offer for sale (OFS) of 7.5 crore shares. This is a 15 per cent stake sale by Telecommunications Consultants India and does not involve any new issue. Therefore, the proceeds from Bharti Hexacom's IPO will not flow to the company. TCI holds a total of 30 percent of the shares. Currently, Bharti Airtel holds a 70 percent stake.
Who got what?
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Qualified Institutional Buyers (QIBs) attracted particular attention. This part of the share sale received 48.57 times the subscription, while the non-institutional investor part received 10.52 times the subscription. The retail individual investors (RIIs) portion received a subscription of 2.83 times.
It was previously revealed that the share of anchor investors in the share sale of Bharti Hexacom received approximately ₹1,924 crore.
What Bharti Hexacom does
This Airtel unit operates in Rajasthan and the Northeast and provides telecommunication services.
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News / Business / Bharti Hexacom IPO allotment, GMP and listing date: Find out everything about the topic now
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