Bharti Hexacom IPO: What GMP, subscription status signal as focus shifts to allotment and listing date

livemint.com:

Bharti Hexacom IPO: Subscription for the initial public offering (IPO) of the 'Airtel' brand owner company Bharti Hexacom Limited ended on Friday last week. In three days of bidding from 3rd to 5th April 2024, Bharti Hexacom IPO subscription status signals a tepid response by retail investors. However, the mainboard IPO sailed through after receiving a strong response from QIB investors on the last date of the Bharti Hexacom IPO subscription.

Meanwhile, the grey market has managed to remain steady regarding Bharti Hexacom IPO. According to stock market observers, shares of Bharti Hexacom Limited are available at a premium of ₹62 in the grey market today. As per the market observers, Bharti Hexacom IPO GMP (grey market premium) today is ₹62, which is unchanged from its Friday GMP.

They said that on Friday, Bharti Hexacom IPO GMP had surged from ₹59 to ₹62, recording a ₹3 per share rise in the grey market. Observers went on to add that the grey market has managed to remain steady regarding Bharti Hexacom IPO despite high volatility in the Indian secondary market. They said that the tepid response by the retail investors also failed to dent grey market sentiments as the public issue received a strong response from QIB investors.

In three days of bidding from Wednesday to Friday last week, the public issue worth ₹4,275 crore was subscribed around 30 times. The retail portion of the book build issue was booked 2.83 times, the NII portion was subscribed 10.52 times whereas the QIB segment was subscribed 48.57 times. In the wake of the T+3 listing rule, the Bharti Hexacom IPO listing date is most likely on the third working day after the end of the Bharti Hexacom IPO subscription.