New Delhi: Shares of Bharti Hexacom Ltd, a subsidiary of Bharti Airtel, kicked off trading on a high note, with a 32 percent premium over the issue price of Rs 570 on Friday, April 12, 2024. Today, in a debut trading, the stock opened on the BSE at Rs 755.20.
Issue Price vs Trading Price
This is a significant increase of 32.49 percent from the issue price. It later soared to Rs 824.70, reflecting a remarkable 44.68 percent increase. Similarly, on the NSE, the stock made a strong debut at Rs 755, rising by 32.45 percent. (Also Read: EPFO Introduces Automatic Transfer Of EPF Accounts: Check Who Can Avail This Facility And Other Requirements)
Bharti Hexacom: Market Valuation
With this surge in share price and an impressive start, the company's market valuation stood at Rs 40,637.50 crore. (Also Read: Swiggy Delivery Partner Caught Stealing Shoes in Viral Video, Company Reacts: Watch)
Bharti Hexacom: IPO Subscription
Bharti Hexacom's initial public offering witnessed good investor interest, with a subscription rate of 29.88 times on the final day of bidding on April 5, 2024.
First IPO Of The Fiscal Year
Notably, this marked the first public issue of the fiscal year 2024-25.
Offer Details
The company's Rs 4,275-crore initial share sale, open for public subscription from April 3-5, consisted solely of an Offer For Sale (OFS) of 7.5 crore equity shares, with no fresh issue component. The price band for the Initial Public Offer (IPO) was set at Rs 542-570 per share.
Business Profile
Bharti Hexacom operates as a telecommunications service provider in Rajasthan and the Northeast regions.
Previous IPO
The last IPO from the Bharti group was that of Bharti Infratel, now known as Indus Towers, back in 2012.
(With PTI Inputs)
