Bharti Hexacom listing: Bharti Hexacom shares debut at 32% premium over IPO price

Rate this post

Bharti Hexacom listing today: Shares of Bharti Hexacom made an stellar debut today (April 12) as they listed with 32.4 per cent premium at 755 against the IPO price of 570 beating estimates of 12-15 per cent premium. The 4,275-crore IPO of Bharti Airtel’s subsidiary is India’s biggest public issue in one year.

Bharti Hexacom shares debut at 32% premium over IPO price(Photo credit: Pexels)

Bharti Hexacom IPO subscription

The issue had a robust subscription figures at nearly 30 times its allotted quota with Qualified institutional investors subscribing 48.57 times their allocation, Non-institutional investors buying 10.52 times their portion and retail subscribing 2.83 times the reserved portion.

Bharti Hexacom IPO anchor investors

Bharti Hexacom’s anchor book showed top investors such as Capital Group, Fidelity, Blackrock, and ADIA participating ahead of the IPO opening through which the company raised around 1,924 crore.

Bharti Hexacom IPO details

The issue opened for subscription on April 3 and closed on April 5 and was entirely an offer-for-sale of 7.5 crore shares by which Telecommunications Consultants India- which was the only public shareholder in the company- offloaded shares.

Bharti Hexacom company details

The company was established in 1995 and company offers fixed-line telephone and broadband services in Rajasthan and in the North East. In these regions, the company serves 27.1 million customers across 486 census towns through a distribution network of 616 distributors and 89,454 retail touchpoints. For the fiscal year 2023, the company witnessed a 67.2 per cent year-on-year decline in net profit, amounting to 549.2 crore.

Source link

Visit for practical courses

Pooja Gupta

CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

Disclaimer:- The opinions presented are exclusively those of the author and CA Guruji Classes. The material in this piece is intended purely for informational purposes and for individual, non-commercial consumption. It does not constitute expert guidance or an endorsement by any organization. The author, the organization, and its associates are not liable for any form of loss or harm resulting from the information in this article, nor for any decisions made based on it. Furthermore, no segment of this article or newsletter should be employed for any intention unless granted in written form, and we maintain the legal right to address any unauthorized utilization of our article or newsletter.

CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

Leave a Comment