Grey Market Premium Indicates Strong Investor Interest in Telecom Company’s Offering
The highly anticipated initial public offering (IPO) of Bharti Hexacom is poised to hit the stock market on April 12th, offering investors a chance to partake in the telecom company’s growth trajectory. As excitement builds around the IPO, recent developments, including the grey market premium (GMP) and other crucial details, have captured the attention of market participants.
Bharti Hexacom IPO has garnered significant attention in the grey market, with a premium of 17% to the issue price of Rs 570. Shares of Bharti Hexacom are currently trading at Rs 666 in the grey market, reflecting robust investor demand ahead of the listing.
The grey market, although unofficial, serves as a vital indicator for investors, providing insights into the potential performance of stocks before their official listing. Many market participants closely monitor GMP to gauge investor sentiment and make informed investment decisions.
The allotment of shares for the Bharti Hexacom IPO was finalized on April 8th, with refund initiation taking place on April 10th. Investors can expect the refund amount to be credited to their respective bank accounts, while the finalized shares will be credited to their Demat accounts on the same day.
Bharti Hexacom’s IPO comprises an offer for sale of 75 million shares, with the company aiming to raise Rs 4,275 crore. The IPO bidding commenced on April 3rd and concluded on April 5th, with the price band set between Rs 542 to Rs 570 per equity share.
Retail investors were required to bid for a lot of 26 shares, amounting to a minimum investment of Rs 14,820.
Axis Capital, SBI Capital Markets, ICICI Securities, Bob Capital Markets, and IIFL Securities served as the book-running lead managers for Bharti Hexacom’s IPO, while Kfin Technologies was appointed as the registrar for the issue.
Bharti Hexacom operates in the telecommunications sector, offering comprehensive communication solutions, including mobile, fixed, and broadband services to customers in Rajasthan and the North Eastern states of India.
With the IPO set to debut on April 12th, investors are eagerly anticipating Bharti Hexacom’s entry into the stock market, poised to capitalize on the company’s promising growth prospects in the telecom industry.
