Bharti Hexacom Sets IPO Price Band; Check Latest GMP, Listing and other Details
Bharti Airtel’s arm Bharti Hexacom on Tuesday fixed the price band for its Rs 4,275-crore initial public offering (IPO). The maiden share sale will open for subscription in 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.
Bharti Hexacom IPO Price Band
The company has fixed a price band of Rs 542 to Rs 570 per share.
Bharti Hexacom IPO Subscription Dates
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. 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. 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 provides telecommunication services in Rajasthan and the North East.
Bharti Hexacom IPO GMP Price Today
As per multiple websites that track the grey market premium activities, shares of Bharti Hexacom are commanding a GMP in the price rang of Rs 45-50 in the unlisted market.
(PTI Inputs)
(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.)
