Bharti Hexacom’s IPO received strong response from institutional investors, oversubscribed 30 times.

Bharti Hexacom IPO: Bharti Hexacom’s IPO has received excellent response from investors. After the IPO closed on the last day of applications, Bharti Hexacom’s IPO closed with a total of 30 times oversubscribed. The IPO has received a strong response from institutional investors. Institutional investors’ quota has been oversubscribed by a total of 48.57 times.

In Bharti Hexacom’s IPO, 2,25,00,00 shares were reserved for institutional investors and applications were received for a total of 1,09,29,25,340 shares and this category was subscribed 48.57 times. A total of 1,12,50,000 shares were allotted to non-institutional investors and applications for a total of 11,83,09,620 shares were received and this category was subscribed 10.52 times. 7.5 lakh shares were reserved for retail investors and this was subscribed 2.83 times the quota of retail investors. The response of this category of investors has been rather weak. A total of 4,12,50,000 shares were reserved in the IPO and applications for 1,23,24,84,838 shares were received. The IPO has been subscribed a total of 29.88 times.

Bharti Hexacom’s IPO was open for applications till April 3. The company had fixed the IPO price band at Rs 542-570 per share. Bharti Hexacom has raised Rs 4275 crore from the market through IPO. The shares have been sold only by way of an offer for sale. No new shares are being offered in the IPO. Telecommunication Consultants of India is going to sell 7.5 crore shares or 15 per cent stake through an offer for sale.

Sunil Bharti Mittal owns 70 percent stake in Bharti Airtel’s Bharti Hexacom and TCIL holds 30 percent stake. The allotment in the IPO will be done by April 8 and the listing of the IPO on NSE and BSE is expected by April 12. Bharti Hexacom provides telecom services in Rajasthan and North Eastern states. SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities and IIFL Securities are the book-running lead managers of the IPO.

Also read this

The IMF distanced itself from Executive Director Krishnamurthy Subramaniam’s statement on India’s GDP growth rate.

(Tags translation

Leave a Comment