Bharti Hexacom IPO Day 2: IPO Sees Moderate Bidding

4 Apr 2024 , 12:00 PM

Bharti Hexacom’s public issue saw moderate activity on day two of bidding on April 4, with investors subscribing to 1.62 Crore shares, representing 0.40 times the total offer of 4.12 Crore shares. Click here to subscribe the IPO.

On day 2, at the time of writing the retail investors took the lead, subscribing to 0.72 times their reserved portion, followed by non-institutional investors at 0.60 times. Qualified institutional buyers (QIBs) showed tepid interest, subscribing to 0.29 times

The IPO of Bharti Airtel’s subsidiary commenced on April 3 and will conclude on April 5, aiming to raise ₹4,275 Crore.

Before the IPO launch, the company secured approximately ₹1,924 Crore through its anchor book, attracting investments from prominent global investors such as Capital Group, Fidelity, Blackrock, and ADIA.

The IPO comprises only an offer-for-sale (OFS), with Telecommunications Consultants India, the sole public shareholder, divesting 7.5 Crore equity shares, equivalent to a 15% stake. Bharti Airtel, the company’s promoter, holds a 70% stake, while Telecommunications Consultants India holds the remaining 30% (15 Crore shares).

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