Bharti Hexacom GMP: Will there be a listing pop at the bourses tomorrow?
Bharti Hexacom will be listed on the exchanges on Friday. Ahead of the debut, the company's shares are trading with a premium of Rs 90 in the unlisted market.
Considering the upper price band of Rs 570, the stock is expected to list at a 16% premium to the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
Since the IPO is completely an offer for sale (OFS), the entire proceeds will go to the selling shareholder TCIL. The issue, through which TCIL offloaded its stake, was booked nearly 30 times at close on strong interest from non-institutional investors.
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Bharti Hexacom is a communications solutions provider offering consumer mobile services,fixed-line telephone, and broadband services to customers in the Rajasthan and the North East telecommunication circles in India, which comprises the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland and Tripura.
The company has a spectrum portfolio with a varied pool of mid-band spectrum, which has enabled us to offer 5G plus services to customers.
Sunil Mittal-driven telco Bharti Airtel holds a 70% stake or 35 crore shares in the company.
For the six months ended September, Bharti Hexacom reported a revenue of Rs 3,420 crore, compared to Rs 3,167 crore a year ago. However, profit dropped to Rs 69 crore from Rs 195 crore a
