IPO subscription to open on April 3
BBN Bureau
Mumbai: The price band for the Bharti Hexacom IPO has been set between Rs 542 to 570 per equity share, with a face value of Rs 5. Subscription for the IPO is scheduled to open on Wednesday, April 3, and close on Friday, April 5, marking the commencement of the new fiscal year 2024–2025 (FY25). Allocation to anchor investors is slated for Tuesday, April 2. The IPO lot size is 26 equity shares, with multiples of 26 equity shares thereafter.
The floor price is set at 108.40 times the face value of the equity shares, while the cap price stands at 114 times the face value. At the floor price, the price-to-earnings ratio is 49.36 times, and at the cap price, it is 51.91 times.
The IPO has allocated not less than 75% of the offer for qualified institutional buyers (QIB), up to 15% for non-institutional investors (NII), and a maximum of 10% for retail investors. The basis of allocation date for the IPO is tentatively scheduled for Monday, April 8, with refunds commencing on Wednesday, April 10, and shares being credited to allottees’ demat accounts on the same day.
Bharti Hexacom’s shares are expected to be listed on both the BSE and NSE on Friday, April 12. The IPO comprises solely an offer-for-sale (OFS), with no fresh issue component. The company’s only public stakeholder, Telecommunications Consultants India, plans to divest 7.5 crore equity shares.
