Bharti Hexacom IPO: What GMP, subscription status signals as focus shifts to allotment and listing date

Bharti Hexacom IPO: The subscription for the initial public offering (IPO) of 'Airtel' brand owner Bharti Hexacom Limited closed on Friday last week. In three bidding days from April 3 to 5, 2024, the subscription status of Bharti Hexacom's IPO signals a muted response from retail investors. However, the mainboard IPO came off smoothly after receiving strong response from QIB investors on the last date of subscription of Bharti Hexacom IPO. Meanwhile, the gray market has managed to remain stable regarding Bharti Hexacom's IPO. According to stock market observers, shares of Bharti Hexacom Limited are available at a premium of ₹62 on the gray market today.

Bharti Hexacom IPO GMP today

According to the market watchers, Bharti Hexacom IPO is GMP (Gray Market Premium) today ₹62, which is unchanged from Friday's GMP. They said Bharti Hexacom GMP's IPO rose sharply on Friday ₹59 to ₹62, recording a ₹3 per share rising on the gray market. Observers added that despite high volatility in the Indian secondary market, the gray market managed to remain stable regarding Bharti Hexacom's IPO. They said the muted response from retail investors also failed to dampen gray market sentiment as the public issue received a strong response from QIB investors.

Bharti Hexacom IPO Subscription Status

In three bidding days from Wednesday to Friday last week, the public issue was worth ₹4,275 crore was subscribed around 30 times. The retail portion of the book-build issue was booked 2.83 times, the NII portion was subscribed 10.52 times while the QIB segment was subscribed 48.57 times.

Infographic: Courtesy of mintgenie

Bhrti Hexacom IPO Allotment, Listing Date

Under the T+3 listing rule, Bharti Hexacom's listing date is most likely to be on the third business day after the end of the Bharti Hexacom IPO subscription. Since the Bharti Hexacom IPO subscription ended on April 5, 2024 and the next two days are weekends, we can expect Bharti Hexacom's listing date on April 10, 2024, which is Wednesday next week. Likewise, the allotment date for the IPO of Bharti Hexacom can be expected on Monday next week, i.e. April 8, 2024.

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