Bharti Hexacom IPO Day 1 subscription status: Booked only 0.04 times so far

The initial public offering (IPO) of Bharati Hexacom received a tepid response on the first day of bidding today (April 3). The issue was subscribed 0.04 times so far as investors bid for 18,53,150 shares against 4,12,50,000 shares that are up for grabs. Of the investors, the retail portion was the most active as it witnessed bidding for 13,37,466 shares as compared to 75,00,000 shares reserved for them. There was lesser optimism in Non Institutional Investors (NIIs) who subscribed their portion allotted 0.05 times. Meanwhile, the IPO did not see any interest from Qualified Institutional Buyers (QIBs) on day 1 of bidding.

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Bharti Hexacom IPO key dates: The Bharti Airtel subsidiary's IPO opened for subscription on April 3 and will close on April 5. Through the IPO, the company plans to raise ₹4,275 crore. It was reported that the company has already raised around ₹1,924 crore through its anchor book that includes Capital Group, Fidelity, Blackrock and ADIA. Moneycontrol reported citing a source in the know, “The demand seems to be strong with about 70-80 institutional investors offering to participate, with around 50 long-only funds getting allocation in the anchor book, which was subscribed nearly 30 times on April 2."

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Bharti Hexacom IPO details: The public issue is the first in FY25 and is purely an offer-for-sale where public shareholder Telecommunications Consultants India will be offloading its 15 percent shareholding. This is equivalent to 7.5 crore equity shares.

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Bharti Hexacom IPO price band: The price band of the issue is set at ₹542-570 per share. Mechant bankers of the offer are BI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities and IIFL Securities.