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Bharti Hexacom Share Price: Bharti Hexacom shares made a bumper debut on the bourses today.
Bharti Hexacom IPO Details
This will mark the first public offering in the 2024-25 fiscal year. The company’s IPO is entirely an offer-for-sale (OFS) of 7.5 crore equity shares, indicating a 15 per cent stake by Telecommunications Consultants India Ltd, with no fresh issue component.
The minimum lot size for an application is 26 shares. The minimum amount of investment required by retail investors is Rs 14,820. The minimum lot size investment for small NII is 14 lots (364 shares), amounting to Rs 2,07,480, and for big NII, it is 68 lots (1,768 shares), amounting to Rs 10,07,760.
Since it is an offer-for-sale or OFS, Bharti Hexacom will not receive any proceeds from the IPO. At present, promoter Bharti Airtel holds 70 per cent stake and the remaining 30 per cent stake is owned by Telecommunications Consultants India.
Bharti Hexacom provides telecommunication services in Rajasthan and the North East. At the upper-end of the price band, the IPO size will be Rs 4,275 crore. About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Bharti Hexacom, which filed its preliminary IPO papers with Sebi on January 20, obtained its nod on March 11, to float the maiden public issue. SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are the book-running lead managers of the public issue.
