Bharti Hexacom IPO
Bharti Hexacom Limited (BHARTIHEXA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 12 April 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +7.2% (likely range +6% to +32%), day's high +19.8%, chance of a gain 92%. Actual: +32.5% at the open, +54.4% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 2,25,00,000 | 1,09,29,25,340 | 48.6x | |
| NII (HNI) total | 1,12,50,000 | 11,83,08,372 | 10.5x | |
| Big NII (above ₹10 lakh) | 75,00,000 | 9,20,48,970 | 12.3x | |
| Small NII (₹2-10 lakh) | 37,50,000 | 2,62,59,402 | 7.00x | |
| Retail | 75,00,000 | 2,12,46,758 | 2.83x | |
| Total | 4,12,50,000 | 1,23,24,80,470 | 29.9x |
Bids on NSE and BSE together, as published by NSE, as of 05 Apr 2024, 07:00 PM. Shares offered exclude the anchor portion. 1% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Bharti Hexacom's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| R R KabelSep 2023 | 52.3x | 13.2x | 2.13x | 18.7x | ₹1,964 Cr | +14.0% | +17.2% |
| Concord BiotechAug 2023 | 67.7x | 17.0x | 3.78x | 24.9x | ₹1,551 Cr | +21.5% | +33.3% |
| PB FintechNov 2021 | 24.9x | 7.82x | 3.31x | 16.6x | ₹6,224 Cr | +17.4% | +27.4% |
| Bandhan BankMar 2018 | 38.7x | 13.9x | 1.20x | 14.6x | ₹4,473 Cr | +33.1% | +33.1% |
| Medi Assist Healthcare ServicesJan 2024 | 40.1x | 14.9x | 3.19x | 16.2x | ₹1,172 Cr | +10.1% | +23.9% |
| Bikaji Foods InternationalNov 2022 | 80.6x | 7.10x | 4.77x | 26.7x | ₹881 Cr | +7.6% | +11.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| SBI Capital Markets | 56 | +16.7% | 61% |
| Axis Capital | 107 | +20.4% | 73% |
| BOB Capital Markets | 6 | +4.9% | 50% |
| ICICI Securities | 109 | +21.3% | 69% |
| IIFL Securities | 94 | +19.3% | 71% |
Offer documents (NSE)
Frequently asked
What is the Bharti Hexacom IPO price band and lot size? ₹542–570 per share, with a lot of 26 shares, so the smallest retail bid is ₹14,820.
How many times has it been subscribed? 29.9x overall: QIB 48.6x, NII 10.5x, retail 2.83x.
How did it list? It opened at ₹755, +32.5% against the issue price of ₹570, and closed its first day +42.7%.
