Bharti Hexacom shares will list on the BSE and the NSE on Friday, April 14, 2024.live bse livense live Volume Todays L/H More ×Bharti Hexacom shares may make a healthy stock exchange debut on April 12 after its successful Rs 4,275-crore IPO.
Experts expect listing gains, as the shares could list at Rs 650-660, at a premium of 12-15 percent over the issue price of Rs 570.
Bharti Hexacom is a unit of Bharti Airtel and offers fixed-line telephone and broadband services primarily in Rajasthan and in the North East.
Moreover, its affiliation with Bharti Airtel, a supportive parent company, further enhances its competitive edge and market position.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management.
Bharti Hexacom shares will list on the BSE and the NSE on Friday, April 14, 2024.
live bse live
nse live Volume Todays L/H More ×
Bharti Hexacom shares may make a healthy stock exchange debut on April 12 after its successful Rs 4,275-crore IPO. Experts expect listing gains, as the shares could list at Rs 650-660, at a premium of 12-15 percent over the issue price of Rs 570.
"The listing is justified due to a great opportunity for long-term investors to hold mid-cap telecommunications solutions providers and to play long term in India’s telecom structural ARPU growth story," Prashanth Tapse, research analyst at Mehta Equities said.
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Tapse also added that Bharti Hexacom's anchor book showcases top global investors such as Capital Group, Fidelity, Blackrock, and ADIA participating ahead of the opening of the IPO, which gives investors more comfort. The Airtel subsidiary has raised around Rs 1,924 crore through its anchor book.
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The offer received healthy subscription numbers of 29.88 times. Qualified institutional purchased the most, buying 48.57 times the allotted quota. Non institutional investors or NIIs were second in line, subscribing 10.52 times the portion set aside for them, followed by retail investors who picked 2.83 times the allotted quota.
Bharti Hexacom is a unit of Bharti Airtel and offers fixed-line telephone and broadband services primarily in Rajasthan and in the North East. It serves 27.1 million customers across 486 census towns through a distribution network of 616 distributors and 89,454 retail touchpoints.
Prathamesh Masdekar, an analyst at StoxBox, is of the view that the company enjoys extensive market coverage and penetration, evidenced from its number one position in the highly competitive North-East circle alongside a second position in the Rajasthan circle.
Shivani Nyati, head of wealth at Swastik Investmart, suggests that the company capitalizes on its expansive customer base, well-established brand reputation, and widespread distribution channels to thrive in rapidly expanding markets. Moreover, its affiliation with Bharti Airtel, a supportive parent company, further enhances its competitive edge and market position.
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The public offer opened for subscription on April 3 and closed on April 5. The 4,275-crore offer is purely an offer-for-sale of 7.5 crore shares. Telecommunications Consultants India, the only public shareholder in the company, will offload 7.5 crore equity shares or 15 percent stake in the OFS.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
