Bharti Hexacom IPO: Share Allotment Finalized, GMP Hints Strong Listing; How To Check Status?

The allotment process of the Bharti Hexacom Ltd Initial Public Offering (IPO) has been finalized, paving the way for its highly anticipated listing on Friday, April 12, on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The IPO, which opened for bidding on April 3 and closed on April 5, witnessed robust participation from investors across various categories. The allotment date was April 8, and the basis of allotment has now been determined, allowing investors to ascertain their share allocations.

For those who applied for shares but were unsuccessful, refunds are set to be initiated on April 10, while eligible investors can expect the credit of shares into their demat accounts on the same day.

In a bid to provide convenient access to the allotment status, investors can check online through various platforms including the IPO registrar's portal and the official websites of BSE and NSE. Kfin Technologies Ltd serves as the registrar for the Bharti Hexacom IPO, facilitating the allotment process.

"Despite 100% OFS, Bharti Hexacom IPO received solid response on the last day of its issue biding wherein QIB (48.57x) and NII (10.51x) investors looked more aggressive to grab midcap telecommunication growth story followed by muted retail investors interest who bided only 2.81 times to the allotted quota. Overall it got oversubscribed by 29.87x," says Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Mehta further added, "Healthy listing around 10-12% is justified due to a great opportunity for long term investors to hold mid-cap telecommunications solutions providers and to play long term India's telecom structural ARPU growth story. Furthermore, Bharti Hexacom's anchor book showcases top global investors such as Capital Group, Fidelity, Blackrock, and ADIA participating ahead of the opening of the IPO which give all other investors more comforts to block money for long term."

The allotment status not only confirms whether an investor has been allocated shares but also specifies the quantity allotted, providing clarity and transparency in the IPO process.

How to Check Bharti Hexacom IPO Allotment Status:

On IPO Registrar's Website:

Visit the IPO registrar's website at https://ris.kfintech.com/ipostatus/ and choose any of the provided links.
Select "Bharti Hexacom Limited" from the drop-down menu in the "Select IPO" section.
Choose among the options: Application No., Demat Account, or PAN.
Enter the required details as per the selected option.
Input the Captcha and click 'Submit' to view the allotment status.

On BSE Website:

Visit the BSE official website's allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Under 'Issue Type', select 'Equity'.
Choose the IPO from the drop-down menu under 'Issue Name'.
Enter either the application number or PAN.
The allotment status will be displayed on the screen.

Market observers have reported that the Grey Market Premium (GMP) for Bharti Hexacom IPO stands at Rs 94 per share. This suggests a strong demand for the company's shares, with trading indicating a premium of Rs 94 over the issue price in the grey market.

Considering the IPO price and the current GMP, it is anticipated that Bharti Hexacom shares will debut at Rs 664 per share, reflecting a premium of 16.49% over the IPO price of Rs 570 per share.

The strong response to the Bharti Hexacom IPO reflects investor confidence in the company's prospects and the telecommunications sector as a whole. With the IPO allotment finalized and the listing date approaching, market participants await the debut of Bharti Hexacom shares on the stock exchanges.

As the company prepares to enter the public market, all eyes are on its performance and trajectory in the days following its listing. Analysts and investors alike will closely monitor market dynamics to gauge the reception of Bharti Hexacom shares and its potential impact on the broader market.