Bharti Hexacom IPO raised Rs Rs 1,923.75 crore from the anchor investors by offering them 33.7 million shares of the company.
Bharti Hexacom IPO got subscribed 2.45 times on the last day of its bidding. The retail portion got booked 1.83 times the offer size. While the NII segment got bidding 6 times.
Bharti Hexacom IPO wants to raise Rs 4,275 by offering an entire offer sale of 75 million shares. It kept the IPO price band in a range of Rs 542 to Rs 570 per equity share. A retail bidder is required to subscribe for a minimum of 26 shares aggregating to Rs 14,820.
The company opened the bidding for its IPO on April 03 and will close it on April 05. The shares of the company are expected to be finalised on April 08, after which the refund will be initiated. Tentatively, the shares will hit the bourses on April 12.
SBI Capital Markets, Axis Capital, Bob Capital Markets, ICICI Securities, and IIFL Ltd were the book-running lead managers for the issue of the Bharti Hexacom IPO, while Kfin Technologies was the registrar.
The company plans on continuing to expand its network coverage and grow its revenue by following a simple strategy to premiums its portfolio with continuous upgrades from 2G to 4G/5G customers, upgrading customers within its 4G plans for higher data packs, pre-paid to post-paid upgrade, contextual data monetization, and through converged offerings. The company is also focusing on delivering a brilliant customer experience through an Omnichannel Approach and extensive use of Data Science and at the same time improving its cost efficiencies by undertaking prudent cost optimization measures to improve profitability. “Investors looking to invest, can invest in this IPO with a medium to long-term perspective,” said y Master Capital Services in an IPO note.
Source:financialexpress.com