Bharti Airtel’s subsidiary Bharti Hexacom’s initial public offering (IPO) has received 34 per cent subscription on the first day of bidding on April 3, 2024. This is the first public issue of the financial year 2024-25.
According to the National Stock Exchange (NSE) data, the initial share sale of Bharti Hexacom received bids for 1,41,08,328 shares against 4,12,50,000 shares on offer.
Further, the category for retail individual investors (RIls) got subscribed 48 per cent, while the quota for non-institutional investors received 36 per cent subscription, and the portion for qualified institutional buyers (QIBs) got subscribed 29 per cent.
Furthermore, Bharti Hexacom had collected about Rs 19.24 billion from anchor investors a day prior to the sale. In addition, the company had fixed a price band of Rs 542-570 per share.
