The mainboard IPO market witnessed a slump in April due to market volatility, election season, and foreign investment outflows. Only 3 issues were listed, with 2 trading above their IPO prices. Overall, 25 mainboard IPOs have listed in 2024 YTD.
Last heard, Bharti Hexacom was commanding a premium of Rs 95-100 in the grey market, suggesting a listing pop of 17-18 per cent over the issue price of Rs 570 per share.
The New Delhi-based Bharti Hexacom sold its IPO in the price band of Rs 542-570 per share with a lot size of 26 equity shares to raise a total of Rs 4,275 crore.
Bharti Hexacom, which was incorporated in 1995, provides fixed-line telephone and broadband services to customers in Rajasthan and North East telecom circles in India.