Upcoming IPO 2024 in India: Bharti Airtel’s arm Issue to Open This Week; Check Bharti Hexacom IPO GMP Before Subscribing
Bharti Hexacom IPO GMP Today Price, Bharti Hexacom IPO Date, Bharti Hexacom IPO Details: Bharti Airtel‘s arm Bharti Hexacom initial public offering (IPO) will open for public subscription in the primary market this week. Bharti Hexacom provides telecommunication services in Rajasthan and the North East. SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are the book running lead managers of the public issue. This will mark the first public offering in the 2024-25 fiscal year.
Bharti Hexacom IPO Price Band
The company has fixed a price band of Rs 542 to Rs 570 per share for its Rs 4,275-crore initial public offering (IPO).
Bharti Hexacom IPO Date
The initial share-sale of the telecom operator’s arm will be open for public subscription during April 3-5, and the bidding for anchor investors will open for a day on April 2.
Bharti Hexacom IPO Details
The company’s IPO is entirely an offer-for-sale (OFS) of 7.5 crore equity shares, indicating a 15 per cent stake by Telecommunications Consultants India Ltd, with no fresh issue component. Since it is an offer-for-sale or OFS, Bharti Hexacom will not receive any proceeds from the IPO. At present, promoter Bharti Airtel holds 70 per cent stake and the remaining 30 per cent stake is owned by Telecommunications Consultants India.
Bharti Hexacom IPO Lot Size
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, which filed its preliminary IPO papers with Sebi on January 20, obtained its nod on March 11, to float the maiden public issue.
Bharti Hexacom IPO GMP Price Today
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 40 in the unlisted market.
Bharti Hexacom IPO Allotment Date
Successful bidders will be allotted shares on Monday, April 8 2024.
Bharti Hexacom IPO Listing Date
The shares of the mainboard IPO will be listed on Friday, April 12.
Bharti Hexacom IPO Registrar
Kfin Technologies Limited is the official registrar to the issue of Bharti Hexacom maiden share sale.
(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.)
