Bharti Hexacom IPO Sees Subdued Response on Day 1

4 Apr 2024 , 09:32 AM

Subscriptions for the Bharti Hexacom IPO opened today, Wednesday, April 3, and the company is off to a cautious and steady start in a flat market. The IPO of the subsidiary company of Bharti Airtel is set to conclude on Friday, April 5. Qualified institutional buyers (QIBs) and non-institutional investors (NIIs) are joining retail investors in their steady subscription to the offering.

BSE data indicates that 34% of subscribers to the Bharti Hexacom IPO have so far acted. 36% of the NII component has been booked, while 48% of the retail portion has been subscribed. 29% of subscribers have accessed the QIBs section.

The pricing range for the Bharti Hexacom initial public offering (IPO) is ₹542 to ₹570 per share, with a ₹5 face value. It is possible to put several bids for 26 shares.

75% of the offer has been allotted to QIBs, 15% to NIIs, and 10% to retail investors.

The Bharti Hexacom IPO share allotment date is tentatively set for Monday, April 8. The shares will be credited to the demat accounts of the allottees on the same day as the reimbursement date, which is Wednesday, April 10. On Friday, April 12, the share price of Bharti Hexacom is probably going to be posted on the BSE and NSE.

According to BSE data, bids for 1,41,19,196 shares have been received for the Bharti Hexacom IPO, out of the 4,12,50,000 shares that are being offered.

Out of the 75,00,000 shares that were up for grabs, bids were received for 36,29,886 shares in the retail investors’ category.

Bids were received for 40,09,200 shares of the NIIs part, whereas 1,12,50,000 shares were offered for this section.

64,80,110 shares were bid on for the QIBs category, out of the 2,25,00,000 shares that were offered.

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