Bharti Hexacom Limited IPO Day 1 Subscription

The much-awaited IPO, Bharti Hexacom Limited, a fixed-line telephone and broadband services provider, is now open for subscription from Apri 03, 2024 and will close on April 05, 2024. The allotment for the Bharti Hexacom IPO is expected to be finalised on April 8, 2024. Bharti Hexacom IPO will be listed on BSE and NSE on April 12, 2024.

The company has set the price band at ₹542 to ₹570 per share. The minimum amount of investment required by retail investors is ₹14,820. The minimum lot size investment for sNII is 14 lots (364 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (1,768 shares), amounting to ₹10,07,760.

Bharti Hexacom is 100% offer-for-sale of ₹4,275.00 crore, and the company will not receive any proceeds from the offer. All the offer proceeds will be received by the Selling Shareholder after the deduction of Offer-related expenses, which will be borne by the Selling Shareholders.

The book-running lead managers of the Bharti Hexacom IPO are SBI Capital Markets Limited, Axis Capital Limited, Bob Capital Markets Limited, ICICI Securities Limited, and IIFLSecurities Ltd. At the same time, Kfin Technologies Limited is the registrar for the issue.

On the first day of subscription, i.e. April 03, 2024, Bharti Hexacom IPO received a total subscription of 0.34x. QIB subscribed 0.29x, NIIs 0.36x and retail investors showcased their interest with a subscription of 0.48x.

Bharti Hexacom Ltd. (BHL) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services. The company offers its services under the brand ‘Airtel’. During FY22 to FY23, the company’s revenue increased by 22.3%, and profit after tax (PAT) dropped by -67.2%.

As of December 31, 2023, the company recorded its presence in 486 census towns and had an aggregate of 27.1 million customers across both circles. The company rely on a robust network infrastructure with a mix of owned and leased assets. As of December 31, 2023, it utilised 24,874 network towers. Out of these, the company owns 5,092 towers, and the remaining 19,782 towers were leased from tower companies.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.