Bharti Hexacom IPO lists today; Positive forecasts & JM Financial coverage
Bharti Hexacom, the company behind the “Airtel” brand, is set to go public today, April 12, 2024. It’s a significant event as the company’s Initial Public Offering (IPO) will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India. This move has garnered attention from investors and market experts alike, who are closely monitoring the debut of Bharti Hexacom shares.
Market experts have been speculating about the potential performance of Bharti Hexacom shares upon listing. Despite offering all existing shares for sale, the IPO received overwhelming demand, with subscriptions reaching nearly 30 times the initial offer. This indicates a strong interest from investors, particularly in the growth potential of the telecommunications sector, which Bharti Hexacom represents.
Analysts foresee a healthy premium for Bharti Hexacom shares upon listing, with estimates ranging from 15% to 16% above the issue price of ₹542 to ₹570 per share. This positive sentiment is further reinforced by the current optimistic trend in the market, along with robust subscription demand from various investor categories.
Looking at the numbers, the grey market premium (GMP) for Bharti Hexacom IPO stands at ₹93. This suggests an anticipated listing price of around ₹663 per share, which is 16% higher than the upper price band of the IPO. Such indications from the grey market often reflect market sentiment and expectations for the listing debut.
Overall, there’s considerable anticipation and excitement surrounding the listing of Airtel Hexacom shares. Investors and market participants are eagerly awaiting the opening bell to see how the stock performs in its initial trading session. With positive forecasts, strong subscription numbers, and endorsement from financial analysts, Airtel Hexacom’s IPO listing promises to be an event worth watching in the Indian stock market landscape.