Retail investors will be able to apply for Bharti Hexacom IPO from today.
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Bharti Hexacom IPO: Today the first IPO of the financial year 2024-25 in the Indian stock market has opened for investors to bid today. Bharti Airtel’s subsidiary Bharti Hexacom is trying to raise Rs 4,275 crore through IPO. Investors can bid for this till April 5. The company has fixed the price band of IPO at Rs 542 to Rs 570 per share. The company’s shares are to be listed on BSE and NSE. 7.5 crore shares have been issued by the company under offer for sale. In this company, the government company Telecommunications Consultant India Limited (TCIL)’s share. It is selling its 15 percent stake.
The company was established in 1995
Bharti Airtel holds 70 percent stake in Bharti Hexacom and the remaining 30 percent stake is with public sector Telecom Consultants India Limited. Bharti Hexacom is a communications solutions provider, providing consumer mobile services, fixed line telephone and broadband services to customers in Rajasthan and North-East telecom circles in the country. The company was established in 1995. SBI Capital Markets Ltd, Axis Capital Ltd, BOB Capital Markets Ltd, ICICI Securities Ltd and IIFL Securities Ltd are the book running lead managers to the Bharti Hexacom IPO, while Kfin Technologies Ltd is the registrar to the issue.
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What is GMP?
In the gray market, the company’s shares are trading at a premium of Rs 52 today at 10 am. Due to this, the stock is expected to be listed on the mainboard at Rs 622.
How much will have to be invested
Retail investors will have to bid for at least 26 shares. Whereas, they can bid for a maximum of 338 shares. Accordingly, the investor will have to invest a minimum of Rs 14,820 and a maximum of Rs 1,92,660.
What will the company do with the IPO money?
The IPO is completely based on offer for sale, so the amount received from the issue will go to the shareholders. The company will not get any amount from this.
When will the allotment of shares take place?
The company will allot shares to investors on April 8. Whereas, on April 10, the shares will be sent to the investors’ accounts and the refund will also start on the same day.
When will the listing happen?
The listing of the company’s shares is likely to happen on the NSE-BSE board on April 12.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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