Investors liked the first IPO of the financial year, today is the last day to invest money.

Bharti Hexacom IPO: Today is the last day to invest in the IPO of Bharti Hexacom, a subsidiary of Bharti Airtel. This issue has received good response from investors in the first two days. On Thursday, the second day of IPO opening, it was subscribed 1.12 times. Even in the gray market, unlisted shares of Bharti Hexacom IPO are trading at a premium. Bharti Hexacom had raised about Rs 1,924 crore from anchor investors on Tuesday.

Bharti Hexacom’s IPO opened on 3 April. This IPO is completely Offer for Sale (OFS). In the IPO, 7.5 crore equity shares are being sold through OFS. Bharti Airtel holds 70 percent stake in Bharti Hexacom and the remaining 30 percent stake is with Telecom Consultants India. After the IPO, Telecom Consultants India’s stake in Bharti Hexacom will be reduced by 15 percent. Since it is an OFS, Bharti Hexacom will not receive any proceeds from the IPO.

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Retail investors invested a lot of money
Retail investors have shown a lot of interest in Bharti Hexacom IPO. The portion reserved for retail investors was filled 1.15 times in two days. The category of non-institutional investors (NII) received 1.71 times the bids. At the same time, the share of qualified institutional investors (QIB) received 82 percent applications.

Price band is Rs 542-570
The company has set the price band at Rs 542-570 per share for its ₹4,275 crore IPO. Investors can bid for a minimum of 26 shares and in multiples thereof. According to the upper price band, the retail investor will have to invest a minimum of Rs 14,820 in this IPO. Allotment of shares in Bharti Hexacom’s IPO can take place on April 8. At the same time, listing of shares on stock exchanges can happen on April 12.

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What is GMP?
Bharti Hexacom’s shares are trading at a premium in the gray market. According to IPOWatch, a gray market tracking website, it was seen trading at a premium of Rs 60 against the issue price of Rs 570. In this way, the company’s shares can be listed on the stock exchanges at Rs 630 with a premium of 11 percent.

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