Bharti Hexacom equity shares on ‘B’ Group of Securities list

The listing date of the initial public offering (IPO) of Bharti Hexacom Limited has been fixed on 12th April 2024 i.e. today. The mainboard IPO will list on BSE and NSE in the ‘B’ group of securities, the BSE notice says.

Bharti Hexacom IPO listing date, time
As per the information available on BSE, shares of the ‘Airtel’ brand owner company are going to be listed on BSE and NSE in a special pre-open session during Friday deals. So, Bharti Hexacom share price will become available for trade on Friday at 10:00 AM.

“Trading Members of the Exchange are hereby informed that effective from Friday, April 12, 2024, the equity shares of Bharti Hexacom Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” the BSE notice says.

According to stock market experts, despite a 100 percent Offer for Sale (OFS), Bharti Hexacom IPO received a strong subscription on the last day of bidding. They said that investors have shown interest in the telecom growth story and Bharti Hexacom IPO subscription to the tune of nearly 30 times the initial offer is proof of it. They expected Bharti Hexacom IPO listing at a healthy premium of around 15 percent against the issue price of ₹542 to ₹570 per equity share. Asked about the Bharti Hexacom IPO listing price range, they said that the Bharti Hexacom shares may list in the ₹650 to ₹660 per share range.

Bharti Hexacom IPO listing price prediction
Speaking on Bharti Hexacom IPO listing, Prathamesh Masdekar, Research Analyst at StoxBox said, “Following a strong oversubscription of about 30x to the IPO issue, Bharti Hexacom is expected to open higher when its lists on the bourses on Friday. We expect the issue to list at a premium of around 15% to the issue price of ₹570 per share.”

On expected Bharti Hexacom IPO listing price range, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, “Bharti Hexacom Limited, an arm of the “Airtel” group, provides communication solutions in the northeast regions. After successfully turning around in FY22, the company’s bottom line experienced degrowth at the net level due to accounting adjustments made before the IPO, despite continued soaring in its top line. Analyzing the issue’s annualized earnings for FY24, it appears to be fully priced. We anticipate a listing at around ₹650 to ₹660 per share.”

Expecting a healthy listing for Bharti Hexacom shares, Prashanth Tapse, Senior VP — Research at Mehta Equities said, “Despite 100% OFS, Bharti Hexacom IPO received solid response on the last day of its issue biding wherein QIB (48.57x) and NII (10.51x) investors looked more aggressive to grab midcap telecommunication growth story followed by muted retail investors interest who bided only 2.81 times to the allotted quota. Overall it got oversubscribed by 29.87x. While considering the current optimistic uptrend in the markets, along with healthy subscription demand from all sets of investors, we expect Bharti Hexacom to list a healthy premium.”

Bharti Hexacom IPO GMP today
According to stock market observers, Bharti Hexacom IPO grey market premium (GMP) today is ₹93. This means the grey market is expecting that Bharti Hexacom IPO listing price would be around ₹663 ( ₹570 + ₹93), which is around 16 percent higher than the upper price band of the book build issue. Livemint