Bharti Hexacom IPO Day 3: Check out the subscription details

5 Apr 2024 , 11:51 AM

On day 3, at the time of writing the retail investors took the lead, subscribing to 1.54 times their reserved portion, followed by non-institutional investors at 3.06 times. Qualified institutional buyers (QIBs) showed tepid interest, subscribing to 0.82 times. Click here to subscribe to the IPO.

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

The company raised approximately ₹1,924 crore from anchor investors ahead of the IPO opening. Anchor investors include Blackrock Global Funds, Pictet, Smallcap World Fund, Capital Group, American Funds, Fidelity Funds, Abu Dhabi Investment Authority, Morgan Stanley, HSBC, among others.

The IPO, ending today on April 5, comprises solely of an offer-for-sale (OFS) without any fresh equity issuance.

Telecommunications Consultants India, the company’s sole public shareholder, will sell 7.5 crore equity shares, representing a 15% stake in the OFS. Promoter Bharti Airtel holds a 70% stake in the company, while the remaining 30% or 15 crore equity shares are owned by Telecommunications Consultants India.

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