Bharti Hexacom IPO opens today: Check price, dates, latest GMP and more

Bharti Hexacom IPO: Bharti Airtel subsidiary Bharti Hexacom launched its initial public offering (IPO) today, April 3, 2024, after securing an impressive Rs 1,923.75 crore from anchor investors. The IPO marks a milestone as the first offering from the Bharti Group since December 2012, when Bharti Infratel debuted. The anchor book saw participation from 97 institutional investors, including notable names like Blackrock Global Funds, Pictet, Smallcap World Fund, and Capital Group, among others.

Stichting Depository APG, Aberdeen, Schroder International, and several other key players also jumped in as anchor investors. The allocation of 3,37,50,000 equity shares was finalised at Rs 570 per share. 

Additionally, leading insurance companies such as ICICI Prudential Life Insurance, SBI Life Insurance, and HDFC Life Insurance joined the anchor investors list.

Bharti Hexacom IPO, which amounts to Rs 4,275.00 crore, is an entirely offer for sale of 7.5 crore shares. The subscription window for the IPO opened on April 3, 2024, and is set to close on April 5, 2024. Investors can expect the allotment to be finalised by April 8, 2024, with the tentative listing date earmarked for April 12, 2024, on both BSE and NSE.

The IPO's price band is fixed at Rs 542 to Rs 570 per share, with a minimum lot size of 26 shares. Retail investors can enter the fray with a minimum investment of Rs 14,820. Bharti Hexacom's IPO offers 75,000,000 shares, with allocations of 30.00 per cent to QIBs, 15.00 per cent to NIIs, and 10.00 per cent to RIIs, while anchor investors secure 45.00 per cent.

SBI Capital Markets Limited, Axis Capital Limited, and other prominent names serve as the book-running lead managers for the IPO.

With the latest grey market premium (GMP) standing at Rs 52, investors eagerly await the listing price, estimated to be around Rs 622. This represents a potential gain of 9.12 per cent per share, further heightening the anticipation surrounding Bharti Hexacom's IPO.