Bharti Hexacom IPO Receives Low Initial Subscription So Far

3 Apr 2024 , 12:15 PM

The Bharti Hexacom IPO subscription period began on Wednesday, April 3, and will continue until Friday, April 5. The IPO price band has been set between ₹542 to ₹570 per share, with a face value of ₹5 each. On Tuesday, the company raised ₹1,924 crore from anchor investors. Click here to subscribe to the IPO.

As of the first 2 hours of subscription, the IPO has been subscribed 0.05 times. The retail portion of the IPO has been subscribed 0.21 times, while the non-institutional investors portion has received 0.06 times subscription.

The IPO allocation is as follows: at least 75% of the offer is reserved for qualified institutional buyers (QIB), a maximum of 15% for non-institutional investors (NII), and a maximum of 10% for retail investors.

Bharti Hexacom, a subsidiary of Bharti Airtel, provides communication solutions to clients in Rajasthan and the Indian states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura, as well as the North East telecommunication circles. The company offers fixed-line telephone, internet, and consumer mobile services under the “Airtel” brand.