In accordance with the signals provided by the gray market premium, market players think the stock might deliver at a respectable double digit premium. But given the solid company strategy, solid parentage, and stable finances, they think long-term investors should hold the shares.
According to Prashanth Tapse, Senior VP Research at Mehta Equities, investors were more eager to seize midcap telecom development stories, and this was shown in the strong reception to Bharti Hexacom’s first public offering. “Considering the current optimistic uptrend in the markets, along with healthy subscription demand, we expect Bharti Hexacom to list a healthy 10-12 per cent above its issue price,” he stated.
Bharti Hexacom, a New Delhi-based company, priced its initial public offering (IPO) at Rs 542-570 per share, with a lot size of 26 equity shares. Through its initial stake sale, which consisted only of Telecommunications Consultants India’s offer to sell up to 7,50,00,000 equity shares, the business raised Rs 4,275 crore.
With an overall subscription of 29.88 times, the telecoms services provider’s initial public offering (IPO) achieved a respectable level of response. While the allotment for non-institutional bidders was booked 10.52 times, the quota for eligible institutional bidders was subscribed 48.57 times. By the time the auction ended, just 2.83 times had been subscribed for the portion designated for retail investors.
Bharti Hexacom and Airtel have a strong synergy that takes advantage of Airtel’s strong brand, wide range of services, and commitment to sustainability to propel long-term market growth. Therefore, taking into account all the factors, we advise allocated clients to ‘keep’ the investment for the long term only,” he stated.
Bharti Hexacom has a wide penetration and coverage in the market. Furthermore, according to Masdekar, one of the main areas of attention is maximizing return on capital utilized and judicious capital allocation, which is evident in capital expenditures for both spectrum and non-spectrum investment.
Bharti Hexacom was established in 1995 and serves consumers in Rajasthan and the northeast telecom circles of India with fixed-line phone and broadband services. States like Rajasthan, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura are among those where the organization offers services.
The registrar for the Bharti Hexacom IPO is Kfin Technologies, and the book running lead managers of the offering are Axis Capital, BoB Capital Markets, SBI Capital Markets, ICICI Securities, and IIFL Securities.
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