Mumbai: Shares of Bharti Hexacom, a subsidiary of telecom sector giant Bharti Airtel, were listed in the stock market on Friday. As soon as it was listed, the investors who had invested money in its IPO were in a frenzy. In fact, Bharti Hexacom Shares have been listed on the Bombay Stock Exchange (BSE) at a premium of more than 32 percent compared to the issue price of the company.
Great listing even in falling market
Shares of Bharti Hexacom, which has entered the stock market, were listed at Rs 755.20 on BSE at a premium of 32.4 per cent, while the company’s shares were listed at Rs 755 on the National Stock Exchange (NSE). The special thing is that this strong listing of Airtel company has happened at a time when the stock market is trading in the red. Even in the falling market, this company has given a gift to its investors on the very first day.
The size of IPO was Rs 4275 crore.
Bharti Hexacom is the largest in size IPO in the last one year in the IPO market. Through this the company raised Rs 4,275 crore from the market. This IPO received an excellent response from investors and was subscribed up to 30 times. This IPO was subscribed 48.57% in QII category, 10.52% in NII category and 2.83% in Retail category. Bharti Hexacom had raised Rs 1924 crore from its anchor investors. Its anchor investors include big names like Capital Group, Fidelity, Blackrock and ADIA.
This was the price band of IPO
A strong listing of Bharti Hexacom’s shares was already expected and market experts were estimating the listing of its shares on BSE-NSE to be 10-12 per cent or around Rs 640, but on the listing day it It has made an excellent entry in the market. It is noteworthy that Bharti Hexacom IPO was opened for subscription on 3rd April and money was invested in it till 5th April. The company had offered 7.5 crore shares through this and their price band was fixed at Rs 542-570.
This is how investors earned Rs 60,000
The lot size under Bharti Hexacom IPO was 26 shares and as per the upper price band, retail investors had to invest a minimum of ₹ 14,820 for one lot. At the same time, it was mandatory for high net worth investors to buy 14 lots, that is, a minimum investment of Rs 2,07,480 was fixed for them. An investor could bid for a maximum of 13 lots and in such a case the maximum investment made by him would be Rs 1,92660. If we look at the listing price, the investment amount with 32 percent premium became Rs 2,56,237 on the very first day. This means that one investor has directly made a profit of Rs 63,577.
Airtel company has been India’s largest integrated communication solution provider in terms of consolidated operating revenue till the financial year 2023. Bharti Hexacom provides telecom services in Rajasthan and North East.
