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Business News/ Markets / Ipo/  Bharti Hexacom share price makes a bumper debut, stock opens with 32.5% premium at 755 on NSE
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Bharti Hexacom share price makes a bumper debut, stock opens with 32.5% premium at ₹755 on NSE

Bharti Hexacom share price opened at ₹755 per share, 32.5% higher than the issue price of ₹570, on NSE. Market experts anticipated Bharti Hexacom share price to open in the range of ₹650-660 per share.

Bharti Hexacom share price lists on the bourses today. (https://www.bhartihexacom.in/)Premium
Bharti Hexacom share price lists on the bourses today. (https://www.bhartihexacom.in/)

Bharti Hexacom share price made a stellar debut on the bourses today. On NSE, Bharti Hexacom share price opened at 755 per share, 32.5% higher than the issue price of 570. On BSE, Bharti Hexacom share price today opened at 755.20 apiece, up 32.49% than the issue price.

Market experts anticipated Bharti Hexacom share price to open in the range of 650-660 per share.

During the span of the three-day subscription period, investors responded well to Bharti Airtel's subsidiary company, Bharti Hexacom IPO. Qualified institutional buyers (QIBs) stole the show on the last day with a 48.57-time subscription to the issue. Retail investors exhibited good demand (2.83 times subscription), but non-institutional investors (NIIs) responded strongly (10.52 times subscription). According to BSE data, the overall Bharti Hexacom IPO subscription status on day three was 29.88 times.

Also Read: Bharti Hexacom IPO listing date today. GMP, experts see healthy debut of shares. JM Financial initiates coverage

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 75% of the offer was set aside for QIB, 15% for NII, and 10% of the offer was allocated for retail investors.

Bharti Hexacom is a communications solutions firm that serves the telecom circles in North-East India, which includes Rajasthan and the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. It offers broadband services in addition to fixed-line phone service. The business goes by the name Airtel to market its services.

Also Read: Bharti Hexacom IPO listing date today. GMP, experts see healthy debut of shares. JM Financial initiates coverage

Bharti Hexacom IPO details

The company's Red Herring Prospectus stated that there is no fresh issue component to the Bharti Hexacom IPO and that it is solely an offer-for-sale (OFS). The company's only selling stakeholder, Telecommunications Consultants India, intends to sell off 7.5 crore equity shares, or 15% of the OFS.

According to the DRHP filed with SEBI, TCIL had originally proposed to offer up to 10 crore equity shares. The OFS section is the only part of the IPO. It is therefore not likely that the company will profit from the issue. 

The book running lead managers for the Bharti Hexacom IPO include Axis Capital Limited, Bob Capital Markets Limited, ICICI Securities Limited, SBI Capital Markets Limited, and IIFL Securities Ltd. Kfin Technologies Ltd is the issue registrar.

Also Read: Bharti Hexacom IPO allotment to be finalised today; latest GMP, step-by-step guide to check status

Bharti Hexacom IPO GMP today

Bharti Hexacom IPO GMP or grey market premium is +125. This indicates Bharti Hexacom share price were trading at a premium of 125 in the grey market, according to investorgain.com.

After taking into consideration the upper end of the IPO pricing range and the existing premium on the grey market, Bharti Hexacom shares are anticipated to list at a price of 695 per share, which is 21.93% more than the IPO price of 570.

Today's IPO GMP indicates higher and anticipates a strong listing based on the activity of the grey market over the past 21 sessions. According to expert findings on investorgain.com, the lowest GMP is 30, and the maximum GMP is 125.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Bharti Hexacom IPO allotment out; latest GMP, steps to check application status online

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 12 Apr 2024, 10:00 AM IST
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