Recruitment Hexacom GMP : Only one new IPO is going to be launched this week. This is a mainboard IPO of Bharti Hexacom. This telecom and broadband solutions provider is set to launch its IPO on April 3. You can subscribe to this IPO of Bharti Hexacom till 5th April. For this IPO, the company has fixed the price band at Rs 542 to Rs 570. Whereas, the face value is Rs 5. Thus the floor price is 108.40 times the face value. At the same time, the cap price is 114 times the face value. The price to earnings ratio at the floor price is 49.36 times. Whereas, the cap price is 51.91 times.
IPO worth Rs 4,275 crore
Bharti Hexacom’s IPO will be the first IPO of financial year 2024-25. Anchor investors will be able to bid in this IPO on April 2. At least 75 per cent of the issue is reserved for qualified institutional buyers. Not more than 15 per cent is for non-institutional investors. At the same time, maximum 10 percent is reserved for retail investors. This IPO is worth Rs 4,275 crore. This entire IPO is Offer for Sale (OFS). There is no fresh issue component in it.
You can invest minimum Rs 14,820
Investors can bid for a minimum of 26 shares in this IPO. Retail investors can invest a minimum of Rs 14,820 in this IPO. The promoter of this company is the leading telecom company Bharti Airtel. Allotment of shares in Bharti Hexacom’s IPO may take place on April 8. At the same time, listing of shares on stock exchanges can happen on April 12.
What is GMP?
Bharti Hexacom shares are seen trading at a premium in the gray market. It was seen trading at a premium of Rs 37 against the issue price of Rs 570. In this way, the company’s shares can be listed on the stock exchanges at Rs 607 with a premium of 6.49 percent.
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