Latest News | Bharti Hexacom Shares Make Remarkable Debut; Zoom over 32 Pc
Get latest articles and stories on Latest News at LatestLY. Shares of Bharti Airtel's arm Bharti Hexacom Ltd listed with a huge premium of over 32 per cent against the issue price of Rs 570 on Friday.
New Delhi, Apr 12 (PTI) Shares of Bharti Airtel's arm Bharti Hexacom Ltd listed with a huge premium of over 32 per cent against the issue price of Rs 570 on Friday.
The stock started the trade at Rs 755.20, registering a gain of 32.49 per cent from the issue price on the BSE. It later climbed 44.68 per cent to Rs 824.70.
On the NSE, the stock made its debut at Rs 755, rising 32.45 per cent.
The company's market valuation stood at Rs 40,637.50 crore.
Bharti Hexacom's initial public offering received 29.88 times subscription on the last day of bidding on April 5.
This was the first public issue of the financial year 2024-25.
The company's Rs 4,275-crore initial share sale was open for public subscription from April 3-5. The company had fixed a price band of Rs 542-570 per share for the Initial Public Offer (IPO).
The company's IPO was entirely an Offer For Sale (OFS) of 7.5 crore equity shares, indicating a 15 per cent stake by Telecommunications Consultants India Ltd, with no fresh issue component.
Bharti Hexacom provides telecommunication services in Rajasthan and the Northeast.
The Bharti group's previous IPO of Bharti Infratel, now known as Indus Towers, was in 2012.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)