IPO worth Rs 4,275 crore will open next week, check price band and GMP

Ronit Kawale
Ronit Kawale - Senior Editor
4 Min Read
IPO worth Rs 4,275 crore will open next week, check price band and GMP


highlights

In Bharti Hexacom IPO, 7.5 crore shares will be sold through OFS.
Anchor investors will be able to bid in Bharti Hexacom IPO on April 2.
Allotment of shares in Bharti Hexacom's IPO can take place on April 8.

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New Delhi. The first IPO of the new financial year will be launched on 3 April. Investors will be able to invest money in this IPO of Bharti Hexacom, a subsidiary of Bharti Airtel, till April 5. At the same time, this IPO will open for anchor investors on April 2. The price band of IPO has been fixed at Rs 542 to Rs 570. This IPO is completely Offer for Sale (OFS). Bharti Airtel holds 70 percent stake in Bharti Hexacom and the remaining 30 percent stake is with Telecom Consultants India.

In the IPO, 7.5 crore equity shares will be sold through OFS. After the IPO, Telecom Consultants India's stake in Bharti Hexacom will be reduced by 15 percent. Since it is an OFS, Bharti Hexacom will not receive any proceeds from the IPO.

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IPO worth Rs 4,275 crore
The size of Bharti Hexacom IPO is Rs 4275 crore. This IPO will be the first IPO of the financial year 2024-25. Anchor investors will be able to bid in this IPO on April 2. At least 75 percent of this issue is reserved for qualified institutional buyers. More than 15 percent is reserved for non-institutional investors and 10 percent for retail investors.

You will have to invest at least Rs 14,820
There are 26 shares in one lot of this IPO. According to the upper price band, the retail investor will have to invest a minimum of Rs 14,820 in this IPO. Allotment of shares in Bharti Hexacom's IPO can take place on April 8. At the same time, listing of shares on stock exchanges can happen on April 12.

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What is GMP?
Bharti Hexacom's shares are trading at a premium in the gray market. According to IPOWatch, a gray market tracking website, it was seen trading at a premium of Rs 40 against the issue price of Rs 570. In this way, the company's shares can be listed on the stock exchanges at Rs 610 with a premium of 7 percent.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. PressNews24 is not responsible for any profit or loss of yours. will be.)

Tags: Business news in hindi, IPO, Stock market

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