Market players think that, in accordance with the signals provided by the gray market premium, Bharti Hexacom might supply at a respectable double-digit premium. Bharti Hexacom’s shares are scheduled to launch on Dalal Street on Wednesday. Based on indications from the grey markets, the business is expected to provide investors with a respectable listing price. Since the bidding procedure ended, the premium in the unofficial market has increased.
Bharti Hexacom Premium
As of the last report, Bharti Hexacom was fetching a premium of Rs 95–100 on the gray market, indicating a 17–18% listing premium for investors above the issue price. The premium was Rs 65 per piece when the issue had opened for bidding, but it was between Rs 80 and Rs 85 in the unofficial market a few hours before.
In accordance with the signals provided by the gray market premium, market players think the stock might deliver a respectable double-digit premium. But given the solid company strategy, solid parentage, and stable finances, they think long-term investors should hold the shares.
According to Prashanth Tapse, Senior VP of Research at Mehta Equities, investors were more eager to seize midcap telecom development stories, and this was shown in the strong reception to Bharti Hexacom’s first public offering. “Considering the current optimistic uptrend in the markets, along with healthy subscription demand, we expect Bharti Hexacom to list a healthy 10–12 percent above its issue price,” he stated.
Initial Public Offering At Rs 542-570 Per Share
Bharti Hexacom, a New Delhi-based company, priced its initial public offering (IPO) at Rs 542-570 per share, with a lot size of 26 equity shares. Through its initial stake sale, which consisted only of Telecommunications Consultants India’s offer to sell up to 7,50,00,000 equity shares, the business raised Rs 4,275 crore.
With an overall subscription of 29.88 times, the telecom services provider’s initial public offering (IPO) achieved a respectable level of response. While the allotment for non-institutional bidders was booked 10.52 times, the quota for eligible institutional bidders was subscribed to 48.57 times. By the time the auction ended, just 2.83 times had been subscribed for the portion designated for retail investors.
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Bharti Hexacom was established in 1995 and serves consumers in Rajasthan and the northeastern telecom circles of India with fixed-line phone and broadband services. States like Rajasthan, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura are among those where the organization offers services.
The registrar for the Bharti Hexacom IPO is Kfin Technologies, and the book-running lead managers of the offering are Axis Capital, BoB Capital Markets, SBI Capital Markets, ICICI Securities, and IIFL Securities.
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