Bharti Hexacom Makes Bumper Listing: Stock Lists At 32 Per Cent Premium Over Issue Price

Bharti Hexacom IPO: Trading on the BSE started with the stock opening at Rs 755.20, a gain of 32.49 per cent; on the NSE, the stock debuted at Rs 755, clocking a similar surge of 32.45 per cent

Bharti Hexacom IPO

Shares of Bharti Hexacom Ltd, a subsidiary of Bharti Airtel, surged with an impressive premium of over 32 per cent against its issue price of Rs 570 as it made its market debut on Friday. Trading on the BSE started with the stock opening at Rs 755.20, marking a substantial gain of 32.49 per cent from the issue price. The stock further soared to Rs 824.70, reflecting a remarkable increase of 44.68 per cent. On the National Stock Exchange (NSE), Bharti Hexacom's stock debuted at Rs 755, clocking a similar surge of 32.45 per cent.

With this notable performance, the company's market valuation reached Rs 40,637.50 crore.

Bharti Hexacom Subscription

Bharti Hexacom's initial public offering (IPO) saw robust demand, receiving a subscription of 29.88 times on the final day of bidding on April 5. This IPO, amounting to Rs 4,275 crore, marked the first public issue of the financial year 2024-25. The IPO was open for public subscription from April 3 to April 5, with a price band of Rs 542-570 per share.

Bharti Hexacom OFS

It's noteworthy that Bharti Hexacom's IPO was entirely an Offer For Sale (OFS) of 7.5 crore equity shares, representing a 15 per cent stake divested by Telecommunications Consultants India Ltd, without any fresh issue component.

Bharti Hexacom Earnings

Despite reporting strong revenue figures, Bharti Hexacom saw a significant 67.2 per cent decline in net profit to Rs 549.2 crore for the fiscal year 2022-23. This drop was primarily attributed to a larger base in the previous year, which included exceptional gains totaling Rs 1,951.1 crore.

Operating as a telecommunications service provider in Rajasthan and the Northeast regions, Bharti Hexacom solidifies its position within the industry.

This Bharti Hexacom IPO marks the return of Bharti Group to the public markets since its last IPO of Bharti Infratel, now known as Indus Towers, which took place in 2012.