The latest Grey Market Premium (GMP) for the Bharti Hexacom IPO suggests something about its listing today.
Today marks the listing date for the initial public offering (IPO) of Bharti Hexacom Limited, scheduled for April 12th.
The IPO listing of Bharti Hexacom is happening today, April 12. According to the BSE notice, the mainboard IPO will be listed on both BSE and NSE under the ‘B’ group of securities, with shares becoming available for trading in a special pre-open session. Trading of Bharti Hexacom shares is expected to commence at 10 am today.
Due to strong oversubscription of the IPO, it’s anticipated that the share price will debut higher, with expectations of a 15% premium for the Bharti Hexacom IPO.
The Bharti Hexacom IPO garnered significant interest from investors during its three-day bidding phase, beginning on April 3 and concluding on April 5. On the final day, the subscription status stood at 29.88 times, with 2.83 subscriptions for the retail component, 48.57 subscriptions for the Qualified Institutional Buyers (QIBs), and 10.52 subscriptions for the non-institutional investors.
The Grey Market Premium (GMP) of the IPO rose to ₹105 from ₹96 the day before, suggesting potential listing gains of 18.42% over the price band of ₹570.
Bharti Hexacom, a subsidiary of Bharti Airtel, operates in the telecom circles of North-East India, encompassing regions like Rajasthan, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. Alongside fixed-line phone services, the company offers broadband services. The IPO allocated a minimum of 75% of the offer to Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and a maximum of 10% for retail investors.
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