Bharti Hexacom IPO Oversubscribed on Last Day

5 Apr 2024 , 06:09 PM

Investors have responded overwhelmingly to Bharti Airtel’s subsidiary Bharti Hexacom Ltd.’s initial public offering, which closes on April 5. Up until Thursday, the IPO had trouble getting all of the subscriptions it needed, but as of right now, it has about 30 times as many. On the last day of bidding on Friday, till 3:39 pm, the ₹4,275-crore initial public offering (IPO) garnered bids for 1,18,35,92,228 shares against the 4,12,50,000 shares on sale, resulting in a 28.69 times subscription.

10.37 times as many people subscribed to the non-institutional investor category as to the retail individual investor (RII) segment, which received 2.54 times as many subscribers. 46.57 times the subscriptions were obtained by the QIB category.

Public subscriptions for the Bharti Hexacom IPO began on April 3. It is expected that on April 8, shares will be allocated, and on April 12, it will be listed on the BSE and NSE.

The initial public offering’s price range is set at between ₹542 and ₹570 per share.

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