Bharti Hexacom IPO GMP Price Today: Issue Opens Today; Should You Subscribe? Check Subscription Status, Grey Market Premium
Bharti Hexacom IPO GMP Price Today, Bharti Hexacom IPO Review, Bharti Hexacom IPO Subscription Status, Bharti Hexacom IPO Buy or Not: Bharti Airtel‘s arm Bharti Hexacom collected about Rs 1,924 crore from anchor investors on April 2. The telecom operator’s arm has allotted 3.37 crore equity shares to 97 funds at Rs 570 apiece. Small Cap World Fund Inc, BlackRock, Fidelity Funds, Wellington Management, Abu Dhabi Investment Authority, Schroder, Aberdeen, and Morgan Stanley Asia (Singapore) Pte are among the anchor investors. Additionally, 22 mutual funds were allotted 1.39 crore shares, representing 41 per cent of the total allocation. These mutual funds included SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Aditya Birla Sun Life MF, Sundaram MF, Axis MF, Kotak MF and UTI MF. At this price, the company has garnered Rs 1,923.75 crore from anchor investors. The first public offering in the 2024-25 fiscal year opened for public subscription today. Bharti Hexacom provides telecommunication services in Rajasthan and Northeast.
Bharti Hexacom IPO: Should you Buy or Not?
AUM Capital has given ‘Subscribe’ recommendation to the issue. Bharti Hexacom has got a dominant market share in the Rajasthan and North-East circles through its robust infrastructure and wide retail coverage ably supported by its extensive distribution network.
The analysts at the brokerage said that the operation synergies and cost rationalization through its parent Bharti Airtel gives it an operational advantage. The Bharti group has been one of the pioneers in the launching of 5G services across the country and BHL is expected to leverage this advantage. Smart TVs’ and advent of OTT platforms has become another focal point. It aims to maintain an efficient capital structure with high balance sheet flexibility.
It is vouching to repay its debt obligations through internal accruals as it holds Liquid Investments and Cash worth Rs 2,000 Cr at the end of Dec 31, 2023. We would hence recommend a “SUBSCRIBE” to the issue.
Bharti Hexacom IPO Dates
The initial share-sale opened for public subscription on April 3 and will conclude on April 5.
Bharti Hexacom IPO Price Band
The issue has a price band of Rs 542 to Rs 570 per share.
Bharti Hexacom IPO Details
The company’s Rs 4,275-crore IPO is entirely an offer of sale (OFS) of 7.5 crore equity shares, indicating a 15 per cent stake by Telecommunications Consultants India Ltd, with no fresh issue component. At present, promoter Bharti Airtel holds 70 per cent stake and the remaining 30 per cent stake is owned by Telecommunications Consultants India. At the upper end of the price band, the IPO size will be Rs 4,275 crore. About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Bharti Hexacom IPO Objective
Since it is an offer for sale or OFS, Bharti Hexacom will not receive any proceeds from the IPO.
Bharti Hexacom IPO GMP
According to multiple websites that track the grey market premium activities, the shares of Bharti Hexacom are commanding a GMP in the price range of Rs 50 in the unlisted market today.
Bharti Hexacom IPO Registrar
Kfin Technologies is the registrar for the issue.
Bharti Hexacom IPO Allotment Date
The shares will be allotted on 8th April to successful bidders.
Bharti Hexacom IPO Listing Date
The shares will be listed on both NSE and BSE on 12th April.
Bharti Hexacom, which filed its preliminary IPO papers with Sebi on January 20, obtained its nod on March 11 to float the maiden public issue. SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are the book running lead managers of the public issue.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
