Investors like the first IPO of the fiscal year, today is the last day to invest.

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

Bharti Hexacom’s IPO opened on April 3. This IPO is an outright offer for sale (OFS). In the IPO, 7.5 crore equity shares are being sold through OFS. Bharti Airtel owns 70 percent stake in Bharti Hexacom and Telecom Consultants India holds the remaining 30 percent. After the IPO, Telecom Consultants India’s stake in Bharti Hexacom will be diluted by 15%. As it is an OFS, Bharti Hexacom will not receive any proceeds from the IPO.

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Retail investors put in a lot of money
Retail investors have shown considerable interest in the Bharti Hexacom IPO. The portion reserved for retail investors was filled 1.15 times in two days. The non-institutional investors (NII) category fetched 1.71 times the bids. At the same time, the Qualified Institutional Investors (QIBs) segment received 82 percent of the applications.

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

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What is GMP?
Bharti Hexacom 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 to the issue price of Rs 570. Thus the shares of the company can be listed on the stock exchange at Rs 630 with a premium of 11%.

Tags: money making tips, Stock market, IPO