Bharti Hexacom stock price today: Shares of Bharti Hexacom listed strongly on the stock exchanges with a 32.45% premium on Friday. The stock opened at Rs 755.2 on BSE and Rs 755 on the NSE, surpassing the offer price of Rs 570. Before the listing, the company’s shares traded at a Rs 60 premium in the unlisted market.
The Bharti Hexacom IPO, which was entirely an offer for sale (OFS), will channel all proceeds to the selling shareholder TCIL.The issue saw strong interest from non-institutional investors, getting oversubscribed by almost 30 times.
Analysts believe that a healthy listing of 10-12% is reasonable, offering a promising opportunity for long-term investors in the mid-cap telecommunications sector amidst India’s telecom growth.
Bharti Hexacom’s anchor book includes prominent global investors like Capital Group, Fidelity, Blackrock, and ADIA, instilling confidence in other investors for long-term investments. The company provides communication solutions, mobile services, fixed-line telephone, and broadband services in Rajasthan and the North East telecom circles covering states like Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.
With a diverse spectrum portfolio, Bharti Hexacom offers 5G plus services to its customers. Bharti Airtel, led by Sunil Mittal, holds a 70% stake in the company. Bharti Hexacom reported a revenue of Rs 3,420 crore for the six months ending in September, with a profit decrease to Rs 69 crore from the previous year’s Rs 195 crore.
The company has shown a 19.51% CAGR growth in revenue between FY21-23. Improving from an ARPU of Rs 135 in FY21 to Rs 195 in the first half of September 2023, Bharti Hexacom serves 29.1 million customers across its telecom circles.
The issue was managed by SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities as book-running lead managers.
The Bharti Hexacom IPO, which was entirely an offer for sale (OFS), will channel all proceeds to the selling shareholder TCIL.The issue saw strong interest from non-institutional investors, getting oversubscribed by almost 30 times.
Analysts believe that a healthy listing of 10-12% is reasonable, offering a promising opportunity for long-term investors in the mid-cap telecommunications sector amidst India’s telecom growth.
Bharti Hexacom’s anchor book includes prominent global investors like Capital Group, Fidelity, Blackrock, and ADIA, instilling confidence in other investors for long-term investments. The company provides communication solutions, mobile services, fixed-line telephone, and broadband services in Rajasthan and the North East telecom circles covering states like Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.
With a diverse spectrum portfolio, Bharti Hexacom offers 5G plus services to its customers. Bharti Airtel, led by Sunil Mittal, holds a 70% stake in the company. Bharti Hexacom reported a revenue of Rs 3,420 crore for the six months ending in September, with a profit decrease to Rs 69 crore from the previous year’s Rs 195 crore.
The company has shown a 19.51% CAGR growth in revenue between FY21-23. Improving from an ARPU of Rs 135 in FY21 to Rs 195 in the first half of September 2023, Bharti Hexacom serves 29.1 million customers across its telecom circles.
The issue was managed by SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities as book-running lead managers.
