- By Aditya Pratap Singh
- Thu, 11 Apr 2024 05:01 PM (IST)
- Source:PTI
Bharati Hexacom IPO Listing: After completing the preliminary public offering last week, shares of Bharti Airtel's arm Bharti Hexacom will make their stock market debut on Friday. Bharti Hexacom's preliminary public offering received 29.88 times subscriptions on the last day of bidding on April 5th.
According to a BSE notice dated April 10th, Trading members of the exchange are hereby informed that effective from Friday, April 12, 2024, the equity shares of Bharti Hexacom Limited will be listed in the 'B' Group Securities list and admitted to trading on the exchange.
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The issue price for the public offering is Rs 570 per share, according to the notice available on the exchange. Stock markets are closed on Thursday due to Eid-Ul-Fitr. This was the first public offering of the financial year 2024-25. The company's Rs 4,275-crore initial public offering was open for public subscription from April 3-5. Bharati Hexcom had fixed a price band of Rs 542-570 per share for the IPO.
The company's IPO was entirely an offer-for-sale (OFS) of 7.5 crore equity shares, representing a 15 percent stake by Telecommunications Consultants India Ltd, with no fresh issue component. Bharti Hexacom provides telecommunication services in Rajasthan and the Northeast. The Bharti group's previous IPO of Bharti Infratel, now known as Indus Towers, was in 2012.
Bharati Hexacom IPO subscription status
Qualified Institutional Buyers - 46.57 times
Non-Institutional Investor - 10.13 times
Retail Individual Investor - 2.53 times
Total- 28.63 times
(With PTI's Inputs)
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