The subscription phase for the Bharti Hexacom IPO, the parent company of the ‘Airtel’ brand, concluded last Friday after a three-day bidding window from April 3rd to 5th, 2024. While retail investors showed subdued interest, the IPO witnessed strong demand from Qualified Institutional Buyers (QIBs) on the final day. Nevertheless, the grey market for Bharti Hexacom IPO remained stable, with shares trading at a premium of ₹62, according to market watchers.
Market observers noted that Bharti Hexacom IPO’s Grey Market Premium (GMP) held steady at ₹62 today, mirroring Friday’s figures. Despite significant volatility in the Indian secondary market, the grey market for Bharti Hexacom IPO remained resilient. The lackluster response from retail investors did not dampen the sentiment in the grey market, as the IPO received robust support from QIB investors.
Over the three-day bidding period, the IPO, valued at ₹4,275 crore, garnered a subscription rate of approximately 30 times. The retail portion recorded a subscription of 2.83 times, the Non-Institutional Investor (NII) segment witnessed a subscription of 10.52 times, while the QIB segment surged to an impressive subscription rate of 48.57 times.
Also read: Bharti Hexacom IPO Oversubscribed by 40% on Day 2, Retail Investors at Forefront
In accordance with the T+3 listing rule, market analysts project the Bharti Hexacom IPO listing date to likely fall on the third working day following the closure of the subscription period. With the subscription period concluding on April 5th, 2024, and the subsequent two days being weekends, it is expected that the Bharti Hexacom IPO will be listed on April 10th, 2024, which falls on Wednesday of the following week. Additionally, the Bharti Hexacom IPO allotment date is anticipated to occur on April 8th, 2024, which is Monday of the following week.
Sources: livemint.com
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