Bharti Hexacom IPO: Subscription To Open On April 3; GMP Hints Premium Listing; Other Details Here

Bharti Hexacom, a leading provider of telephone and broadband solutions, is gearing up for its initial public offering (IPO), slated to launch on April 3. With a subscription window open until April 5, investors are eyeing this opportunity to delve into the telecom sector. Here's everything you need to know before considering a stake in Bharti Hexacom's IPO.

The IPO price range for Bharti Hexacom has been set at Rs 542 to Rs 570 per equity share, with a face value of Rs 5. This marks a significant event in the new fiscal year 2024-2025 (FY25) with the allocation to anchor investors scheduled for April 2.

The offering reserves at least 75% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and a maximum of 10% for retail investors. This book-built issue amounts to Rs 4,275 crores, solely through an offer for sale (OFS) mechanism, without any fresh issue component.

Investors can bid for a minimum of 26 shares, with increments thereafter. Retail investors need to commit at least Rs 14,820. Bharti Hexacom is backed by telecom giant Bharti Airtel, instilling confidence among potential investors.

Allotment for the IPO is expected to be determined by April 8, with a tentative listing date set for April 12, 2024, on both the BSE and NSE. The IPO is being managed by prominent entities like SBI Capital Markets Limited, Axis Capital Limited, and others, ensuring robust market management.

Kfin Technologies Limited has been appointed as the registrar for the issue, ensuring efficient handling of the IPO process. Ahead of the IPO, shares of Bharti Hexacom are trading at a premium of Rs 37 in the grey market, as per investorgain.

With the telecom sector experiencing dynamic shifts and advancements, investing in Bharti Hexacom's IPO can be a strategic move. However, potential investors must weigh factors like market conditions, the company's financials, and long-term growth prospects before making decisions.