Bharti Hexacom IPO listing today: Here's what latest GMP indicates

Bharti Hexacom IPO listing: The listing date of the initial public offering (IPO) of Bharti Hexacom Limited is today (April 12). The mainboard IPO will list on BSE and NSE in the ‘B’ group of securities, the BSE notice said and the shares will be listed in a special pre-open session. The Bharti Hexacom share price will become available for trade at 10am today.

The share price is expected to debut higher following a robust over-subscription of the IPO. A 15% premium is anticipated for Bharti Hexacom IPO.

Bharti Hexacom IPO subscription

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Bharti Hexacom IPO received a strong response from investors during its three-day bidding phase which started on on April 3 and closed on April 5. On the third day, Bharti Hexacom IPO subscription status was 29.88 times as there were 2.83 subscriptions for retail component, 48.57 subscriptions for the Qualified Institutional Buyers (QIBs) and 10.52 subscriptions for the non-institutional investors.

Bharti Hexacom IPO GMP

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The grey market premium (GMP) of the IPO increased to ₹105 up from ₹96 the previous day. This indicates potential listing gains of 18.42% over the price band of ₹570.

Bharti Hexacom company and IPO details

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Bharti Hexacom is a subsidiary company of Bharti Airtel which serves the North-East Indian telecom circles. This also includes Rajasthan, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. In addition to fixed-line phone service, the company provides broadband services. The IPO reserved not less than 75% of the offer was reserved for QIB, maximum 15% of the offer was set aside for NII, and maximum 10% of the offer was kept aside for retail investors.