Bharti Airtel subsidiary Bharti Hexacom’s initial public offering (IPO) opened for subscription on Wednesday, April 3, making it the first public offer of the new financial year. Bharti Hexacom IPO will be available for subscription for three trading days, till April 5.
The initial share sale, worth an estimated Rs 4,275 crore, comprises an offer for sale (OFS) of 7.5 crore equity shares, representing a 15 per cent stake owned by Telecommunications Consultants India.
Bharti Hexacom IPO subscription status
By 12:15 pm on Wednesday, the first day of the bidding process, the Bharti Hexacom IPO received bids for 24.3 lakh shares against the 4.1 crore shares on offer, translating into a subscription of six per cent.
Bharti Hexacom IPO anchor investors
Prior to the launch of the IPO, Bharti Hexacom garnered about Rs 1,923.8 crore from anchor investors, according to a circular uploaded on BSE. The anchor investors included Small Cap World Fund Inc, BlackRock, Fidelity Funds, Wellington Management, Abu Dhabi Investment Authority, Schroder, Aberdeen, and Morgan Stanley Asia (Singapore) Pte.
Twenty two mutual funds were allotted 1.4 crore shares, representing 41 per cent of the total allocation, including SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Aditya Birla Sun Life MF, Sundaram MF, Axis MF, and UTI MF.
IPO price band
The company has fixed a price band of Rs 542-570 per share for the IPO.
IPO lot size
Under the IPO, potential investors will be able to bid for shares in multiples 26, which translates into Rs 14,820 per lot.
IPO allotment date, IPO listing date
The basis of the allotment of shares, under the IPO, is set to be finalised tentatively on April 8.
The shares will be listed on exchanges BSE and NSE tentatively on April 12.
IPO: Book running lead managers
SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are the book-running lead managers of the public issue. Kfin Technologies is the registrar.
About Bharti Hexacom
Bharti Hexacom provides telecommunication services in Rajasthan and the North East.
