Bharti Hexacom IPO Rockets with 32% Premium Debut

Bharti Hexacom IPO

April 12, 2023

New Delhi, India

Bharti Hexacom IPO: A Resounding Success

Stellar Debut Surpasses Expectations as Bharti Hexacom Shares Hit Premium High


Bharti Hexacom, a subsidiary of Bharti Airtel, has made waves in the stock market with its highly successful IPO, fetching a premium debut of 32.4% over the IPO price. The IPO, valued at ₹4,275 crore, stands as India’s most significant public issue in the past year, reflecting investor confidence in the telecommunications sector.

Key Highlights

Premium Debut: Bharti Hexacom shares debuted at ₹755, a remarkable 32.4% premium over the IPO price of ₹570, surpassing earlier estimates of a 12-15% premium. This stellar performance on its listing day has drawn attention to the company’s strong market potential and investor interest.

Robust Subscription: The IPO witnessed robust subscription figures, with the issue being oversubscribed nearly 30 times its allotted quota. Qualified institutional investors, non-institutional investors, and retail investors showed significant interest, subscribing 48.57 times, 10.52 times, and 2.83 times their respective allocations.

Anchor Investors’ Confidence: Bharti Hexacom’s anchor book featured prominent investors such as Capital Group, Fidelity, Blackrock, and ADIA, who participated ahead of the IPO opening, collectively raising around ₹1,924 crore. This demonstrated institutional confidence in the company’s growth prospects.

Company Overview

Established in 1995, Bharti Hexacom offers fixed-line telephone and broadband services in Rajasthan and the North East regions of India. With a customer base of 27.1 million across 486 census towns, the company operates through a vast distribution network comprising 616 distributors and 89,454 retail touchpoints. Despite facing a 67.2% year-on-year decline in net profit, amounting to ₹549.2 crore in fiscal year 2023, the company’s IPO success reflects investor optimism in its long-term prospects.


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