2024-04-06 04:09:57
New Delhi:The new year of the economic world has started. Bharti Hexacom, a subsidiary of the leading telecom company Bharti Airtel, is eyeing its first IPO in the financial year 2024-25. This company is entering the IPO market today. The company plans to raise a total of Rs 4,275 crore from the market. Investors can bid in this IPO till the day after tomorrow i.e. till 5th April 2024. If you are also thinking of investing in this IPO, then we are telling you everything about it.
What is the size and price band of IPO?
The company has fixed the price band of this IPO between Rs 542 to Rs 570 per share. If you want to invest in this IPO, you will have to bid for a lot of at least 26 shares. Even above this, bidding will have to be done in multiples of the same amount. Retail investors can bid for a maximum of 13 lots i.e. 338 shares. To participate in this IPO, retail investors will have to invest a minimum of Rs 14,820 and a maximum of Rs 1,92,660.
What is GMP?
Bharti Hexacom shares are trending on the gray market even before opening. Its GMP is increasing continuously. On the morning of Wednesday, April 3, the company’s shares were trading in the gray market at a premium of Rs 52, or 9.12 percent. A day ago it was trending at GMP of Rs 40 i.e. 7.02 percent premium. In such a situation, if this situation persists till the day of listing, then the shares of the company can be listed on BSE and NSE at Rs 622 per share.
who is selling shares
The company is not issuing even a single fresh share through this IPO. The company is going to sell all the shares through offer for sale. Actually, government company Telecommunications Consultant India Limited (TCIL) has a stake in this company. The same company is selling its 15 percent stake through IPO. A total of 7.5 crore shares are going to be sold through this IPO.
When will the allotment happen?
The allotment of shares of Bharti Hexacom is to take place on April 8. While unsuccessful investors will receive refunds on April 10, shares in the demat account can be transferred on April 10. Listing of shares may happen on April 12.
What does the company do?
Bharti Hexacom is a communication solution provider company. It provides telecom services in different parts of the country. The company has operations in Rajasthan, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland and Tripura. Most of the company’s customers are in Rajasthan. Last year the company’s profit declined by 67.2 percent to Rs 549.2 crore.