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.
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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.
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.
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.
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