MUMBAI: Bharti Hexacom’s initial public offering received 1.12 times subscription on second day of bidding on Thursday. This is the first public issue of the financial year 2024-25.
The initial share sale of Bharti Hexacom received bids for 4,62,41,546 shares against 4,12,50,000 shares on offer, according to the NSE data. The category for non-institutional investors received 1.71 times subscription, while the portion for Retail Individual Investors (RIIs) got subscribed 1.15 times and the quota for Qualified Institutional Buyers (QIBs) got subscribed 82%.
On Tuesday, the Bharti Airtel arm said it has collected Rs 1,924 crore from anchor investors. The company had fixed a price band of Rs 542-570 per share. The Rs 4,275 crore IPO is entirely an offer of sale (OFS) of 7.5 crore equity shares, indicating a 15% stake by Telecommunications Consultants India Ltd, with no fresh issue component.