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Bharti Hexacom IPO opens today: 5 things to know before subscribing
Bharti Hexacom IPO: The initial public offerings will close for subscription on April 5 and has a price band of ₹542 to ₹570 per equity share.
Bharti Airtel's subsidiary Bharti Hexacom's initial public offering (IPO) opens for subscription today (April 3). The public offerings will close for subscription on April 5 and has a price band of ₹542 to ₹570 per equity share, with a face value of ₹5. In the issue, at least 75% is reserved for qualified institutional buyers (QIBs), while no more than 15% is for non-institutional investors (NIIs), and 10% is reserved for retail investors.
Read more: Bharti Hexacom IPO, first in 2024-25 fiscal, opens for subscription on this date
The IPO comprises solely of an offer-for-sale (OFS) and does not involve a fresh issue component. The IPO is priced in the range of ₹542-570 per share and investors can bid for 26 shares in one lot.
Bharti Hexacom runs mobile services in Rajasthan and Northeast circles of India. Airtel continues to hold a majority stake in the subsidiary. For the six months ended September, Bharti Hexacom reported a revenue of ₹3,420 crore, compared to ₹3,167 crore a year ago.
Read more: Bharti Hexacom IPO opens; Read all about the share sale and check out the GMP too
The shares of Bharti Hexacom IPO are trading at a premium of ₹47 in the grey market, as per investorgain. The lowest GMP for the IPO has been ₹30 and the highest has been ₹65.
Through the public offering, the company will carry out the offer for sale of up to 75,000,000 equity shares.
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Bharti Airtel Limited is the promoter of Bharti Hexacom. SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities and IIFL Securities are the book-running lead managers.
