Bharti Hexacom IPO: Debut On Friday, GMP Hints Bumper Listing; Check Allotment Status

Investors are awaiting the debut of Bharti Hexacom IPO on Friday, April 12, as the listing date approaches. The IPO, a subsidiary of Bharti Airtel, has garnered attention throughout its journey, from subscription to allotment, and now as it gears up for listing.

Scheduled for Friday, the Bharti Hexacom IPO listing comes after a series of milestones, including the allocation of shares to demat accounts today, Wednesday, April 10. Investors who missed out on the allotment can expect refunds to be processed today as well.

The IPO, which saw its allotment finalized on Monday, April 8, received a healthy response from investors during its three-day subscription period. With a subscription rate of 48.57 times on the final day, the qualified institutional buyers (QIBs) showcased strong interest, followed by non-institutional investors (NIIs) and retail investors.

Subscribers witnessed a subscription status throughout the IPO period, with day three recording an overall subscription of 29.88 times. The robust response highlights the confidence investors have in Bharti Hexacom's potential.

Bharti Hexacom, a communications solutions provider, primarily serves the North-East Indian telecom circles along with Rajasthan. Offering fixed-line phone services and broadband services under the brand name "Airtel," the company has established itself as a key player in the telecom sector.

Market analysts anticipate a strong debut for Bharti Hexacom shares, with expectations of a 15% premium over the IPO price. The grey market premium (GMP) signals positive sentiment, with shares trading at a premium of Rs 98.

Analysts predict the IPO to list at Rs 666 per share, reflecting a nearly 17% increase from the IPO price of Rs 570 per share. The consistent performance in the grey market over the past sessions further reinforces expectations of a solid listing.

The Bharti Hexacom IPO comprises solely of an offer-for-sale (OFS) component, with no fresh issue involved. Telecommunications Consultants India, the selling shareholder, intends to offload 7.5 crore equity shares, constituting 15% of the OFS.

Originally planning to issue up to 10 crore equity shares, the IPO only includes the OFS portion, implying that the company will not receive any proceeds from the issue.

The book-running lead managers overseeing the IPO include Axis Capital Limited, Bob Capital Markets Limited, ICICI Securities Limited, SBI Capital Markets Limited, and IIFL Securities Ltd. Kfin Technologies Ltd is the designated issue registrar.

Disclaimer: The opinions and suggestions provided above represent the views of individual analysts and do not reflect those of GoodReturns or the author. We recommend investors consult with certified experts before making any investment decisions.