Bharti Hexacom IPO: Know allotment status, GMP and other key details before listing of shares on April 12

Telecom services provider Bharti Hexacom shares are tentatively scheduled to be listed on the NSE and BSE on April 12 after its successful IPO.

The initial public offer of the Bharti Airtel subsidiary was booked nearly 30 times despite a sluggish response on the initial two days. Bharti Hexacom IPO was open for subscription from April 3 to April 5.

Bharti Hexacom IPO price band was fixed at ₹542-570 per share. The retail investors were allowed to bid for a lot size comprising 26 shares and in multiples thereof. The minimum investment amount for retail investors was ₹14,820 for a single lot size.

Bharti Hexacom raised ₹1,924 crore in an anchor allocation round ahead of the launch of the IPO at the upper price band of ₹570 per share. The company had set aside 45% of the total issue size, or over 3.37 crore equity shares for anchor investors.

Here are the five things you should know before listing of Bharti Hexacom shares:

Bharti Hexacom IPO share allotment: Steps to check status

Bharti Hexacom has finalised the share allotment status. Investors who have been allotted shares will get information on their registered mobile numbers and through emails about the share allotment. Investors can also check Bharti Hexacom IPO share allotment status by following these simple steps.

Check Bharti Hexacom IPO share allotment status on IPO registrar website

• Visit the website of IPO registrar Kfintech at https://www.kfintech.com/
• Click on products and select IPO allotment status
• Click on any of the server link
• Select Bharti Hexacom IPO
• Fill PAN or Application Number or other details
• Click on the ‘Submit’ button to check allotment status

Check Bharti Hexacom IPO share allotment on BSE website

• Go to the official BSE website (https://www.bseindia.com/)
• Click on Investors and go to Investor Services
• Click on Application Status: https://www.bseindia.com/investors/appli_check.aspx)
• Select Bharti Hexacom Ltd
• Enter your application number and PAN
• Click on Search

The company is expected to start refunds and demat transfers on April 10.

Bharti Hexacom GMP numbers

According to market reports, Bharti Hexacom IPO is commanding a grey market premium (GMP) of ₹80 per share. The GMP suggests that Bharti Hexacom shares could list at a premium of ₹80 per share or around 14% to the issue price of ₹570 apiece.

Grey market premium (GMP) is a rough indicator of how an IPO stock could debut on the listing day. Although grey market trading is not approved by the stock exchanges and SEBI, many investors track GMP before IPO shares list on the exchanges. It is important to note that market sentiments and volatility on the listing day can impact the stock’s listing.

Bharti Hexacom IPO response

Bharti Hexacom IPO was subscribed nearly 30 times following a strong response from qualified institutional investors. Bharti Hexacom IPO received bids for 123 crore equity shares against 4.12 crore equity shares on offer. The qualified institutional buyers placed bids for 109.29 crore equity shares against 2.25 crore enquiry shares reserved for them, subscribing shares by more than 48 times. Retail investors’ portion was booked 2.81 times while non-institutional investors portion was booked more than 10 times.

The majority of bids from QIBs dropped in on the final day of bidding on April 5 (Friday). The QIB portion was subscribed to around 82% till the second day and just 29% on Day 1.

What will the company do with IPO proceeds?

The Bharti Hexacom IPO was an entirely offer for sale of 7.5 crore shares. TCIL, a public shareholder which held 30% stake, offered 15% of its stake or 7.5 crore equity shares through the IPO. The entire proceeds of the OFS will go to TCIL. Promoter Bharti Airtel holds 70% stake in the company and there will be no stake dilution of Airtel.

About Bharti Hexacom

Bharti Hexacom provides mobile and landline telephony and broadband services in Rajasthan and North East telecom circles in India. The company derives most of its revenues from mobile telephony services offered under the Airtel brand in Rajasthan and northeastern states of Manipur, Mizoram, Arunachal Pradesh, Meghalaya, Nagaland and Tripura.

Bharti Hexacom reported a revenue of ₹6,579 crore and a net profit of ₹549 crore for the financial year ended on March 31, 2023. The company reported a revenue of ₹5,405.2 crore in 2021-22 against ₹4,602.3 crore in 2020-21.

Its net profit stood at ₹1,674 crore in 2021-22 against a loss of ₹ 1,034 crore in 2020-21.

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