April 12, 2024
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Bharti Hexacom IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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- GMP
- Reviews
- Subscription
- Allotment
Updates of Bharti Hexacom IPO
Post Listing Review:On 12 April, the scrip is listed at Rs. 755, premium of 32.45% over the issue-price of Rs. 570. This listing has been very much above the expectations of the grey market.
Bharti Hexacom anchors Rs 1,924 cr
Bharti Hexacom, a wholly owned subsidiary of telecom major Bharti Airtel, has raised Rs 1,923.75 crore from anchor investors on April 2, a day before its public offer will open for bids. This will be the first IPO in the new financial year FY25 and the first from the Bharti Group since the Bharti Infratel issue launched in December 2012.
The 97 institutional investors who had zoomed in on the anchor book, included marquee names like Blackrock Global Funds, Pictet, Smallcap World Fund, Capital Group, American Funds, Fidelity Funds and Abu Dhabi Investment Authority.Stichting Depository APG, Aberdeen, Schroder International, Treasurer of the State of North Carolina Equity Investment Fund, BNP Paribas Trust Services Singapore, Eastspring Investments, Morgan Stanley, and HSBC also turned out to be anchor investors.
Subscription Status
On 5 April 2024 4.30 pm (Day 3) (Closed)
Review: Retail Subscription trend poor
QIB: 22500000 Shares 48.57 T
NII(10L+): 7500000 Shares 12.27 T
NII (<10L) 3750000 Shares 7.00 T
NII (Total) 11250000 Shares 10.51 T
RII: 7500000 Shares 2.82 T
Total: 41250000 Shares 29.88 T
What is the promoter of Bharti Hexacom IPO?
The promoter of Bharti Hexacom is BHARTI AIRTEL Ltd
What are the Objects of Bharti Hexacom IPO?
The Offer comprises only offer for sale of shares.
The objects of the Offer are to
To carry out the Offer for Sale of up to 75,000,000 Equity Shares by the Selling Shareholder; and
Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
What is the business of Bharti Hexacom?
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. It offers its services under the brand ‘Airtel’. It has a distinct strategy to premiumise its portfolio by acquiring and retaining quality customers and deliver an experience to them through our omnichannel approach and use of data science. It has a gamut of digital offerings to enhance customer engagement and differentiated customised offerings through family and converged plans under Airtel Black proposition, which has resulted in the continuous improvement of its revenue market share during the last three Fiscals. It undertakes prudent cost optimisation measures to improve its profitability and maintain an efficient capital structure with a comfortable leverage position. It continuously invests in network expansion, technology advancement and judicious spectrum investments.
As of December 31, 2023, it had invested Rs. 206 billion in capital expenditure in its future ready
digital infrastructure. It also derives significant synergies from its relationship with its Promoter, Airtel, through the expansive digital infrastructure, digital experience and the digital services it provides to its customers.
Its revenue market share for the Rajasthan circle was 40.4%, 39.2%, 39.5%, 36.7% and 32.7%, while for the North East circle was 52.7%, 52.4%, 52.5%, 48.5% and 42.0% during the nine months ended December 31, 2023 and 2022 and Fiscals 2023, 2022 and 2021, respectively. It was at number one position in the North East circle during the nine months ended December 31, 2023 and Fiscals 2023 and 2022. In the Rajasthan circle, the market share gap between it and the market leader has narrowed between Fiscal 2021 and the nine months ended December 31, 2023 and it stood at the close second position during the nine months ended December 31, 2023.
For more information, click https://www.bhartihexacom.in/
Bharti Hexacom IPO GMP, Particulars & Guidance
| Bharti Hexacom IPO Details | |
| IPO opens on | 3 April 2024 |
| IPO closes on | 5 April 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 75000000 Sh /Rs 4275 Cr |
| * Fresh Issue | 75000000 Sh /Rs 4275 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Face Value per share: | Rs. 5 |
| Price Band | Rs. 542-570 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 26 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Bharti Hexacom? | Shares | Rs. in Cr |
| QIB (75 %) | 56250000 | 3206.25 |
| NII (15 %) | 11250000 | 641.25 |
| RII (10 %) | 7500000 | 427.50 |
| Employees | – | – |
| Total Shares | 75000000 | 4275 |
| Retail portion will be oversubscribed by | 288461 Forms. | |
| How to apply in Bharti Hexacom IPO? | Amount Rs. | |
| Min Retail Application | 26 Sh | 14820 |
| Max Retail Application | 338 Sh | 192660 |
| Small HNI (Min) application | 364 Sh | 207480 |
| Small HNI (Max) application | 1742 Sh | 992940 |
| Big HNI Application | 1768 Sh | 1007760 |
| What is the timetable of Bharti Hexacom IPO? | |
| IPO opens on | 3 April 2024 |
| IPO Closes on | 5 April 2024 |
| IPO Allotment on | 8 April 2024 |
| Unblocking of ASBA | 10 April 2024 |
| Credit of Shares | 10 April 2024 |
| Listing on | 12 April 2024 |
| Registered Office of Bharti Hexacom | |
| Bharti Hexacom Limited Bharti Crescent, 1 , Nelson Mandela Road Vasant Kunj, Phase II, New Delhi-110 070 |
|
| Who are the Lead Managers of Bharti Hexacom IPO? SBI Capital Markets Ltd Axis Capital Ltd Bob Capital Markets Ltd ICICI Securities Ltd Iifl Securities Ltd |
|
| Registrar to IPO | |
| Kfin Technologies Limited |
| Bharti Hexacom IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 4704 | -1034 | -20.68 | -54.45 |
| 2021-22 | 5494 | 1675 | 33.49 | 46.47 |
| 2022-23 | 6719 | 549 | 10.98 | 13.83 |
| Book Value of the Share on 31.03.2023 | Rs. | 84.19 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 570 | ||
| Bharti Hexacom IPO Ratio Analysis |
|
| Price /EPS | 51.91 |
| Price/Book Value Ratio | 6.77 |
| Price/BV after IPO | ? |
How Bharti Hexacom IPO compares with the Peers?
Peer Comparison.
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Bharti Hexacom | 5 | 6579 | 51.91 |
| Bharti Airtel | 5 | 139145 | 82.16 |
| Vodafone Idea | 10 | 42177 | -1.63 |
| Reliance Jio Infocomm | 10 | 90786 | N.A. |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Bharti Hexacom IPO Guidance* by Paresh Gordhandas, CA & Research Analyst.
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. It offers its services under the brand ‘Airtel’. It was at number one position in the North East circle during the nine months ended December 31, 2023 and Fiscals 2023 and 2022. In the Rajasthan circle, the market share gap between it and the market leader has narrowed between Fiscal 2021 and the nine months ended December 31, 2023 and it stood at the close second position during the nine months ended December 31, 2023.
Size: This being a mainboard IPO, the size Rs. 4275 Cr is somewhat large. At present, so many SME IPOs have entered the market and year-end is nearby, so huge oversubscription may not be possible. However in this IPO, 75% of the shares are reserved for the QIBs, and only 15% shares are available for NIIs, so overubscription is not at all difficult.
Financials: The company has shown volatility in its bottomline. However, in India, the telecom market has low competition level, hence good profitability is expected to continue. The shares are offered at reasonable valuation, compared to the peer companies. Apply only with long term angle. You may or may not get listing gains.
Quicklinks
Bharti Hexacom IPO GMP
Bharti Hexacom IPO GMP today details
Bharti Hexacom IPO GMP today, Details, Guidance, Subscription Status, allotment
SRM Contractors Anchor Investors Details
