Bharti Hexacom IPO opens today: 5 things to know before subscribing - Hindustan Times
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Bharti Hexacom IPO opens today: 5 things to know before subscribing

Apr 03, 2024 12:34 PM IST

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.

Bharti Hexacom IPO: The initial public offerings will close for subscription on April 5.
Bharti Hexacom IPO: The initial public offerings will close for subscription on April 5.

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.

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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.

Read more: Blue Pebble IPO allotment status and GMP: Here is all you need to know

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.

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