Bharti Hexacom shares make remarkable debut; settle nearly 43% higher

New Delhi: Shares of Bharti Airtel's arm Bharti Hexacom Ltd listed with a huge premium and ended with a gain of nearly 43 per cent against the issue price of Rs 570 on Friday.

The stock started the trade at Rs 755.20, registering a gain of 32.49 per cent from the issue price on the BSE. During the day, it climbed 54.36 per cent to Rs 879.90. Shares of the company later ended at Rs 813.75, up 42.76 per cent.

On the NSE, the stock made its debut at Rs 755, rising 32.45 per cent. It ended at Rs 814, a jump of 42.80 per cent.

The company's market valuation stood at Rs 40,687.50 crore.

In traded volume terms, 20.94 lakh shares of the company were traded at the BSE and over 534.65 lakh shares at the NSE during the day.

The rally in the stock came on a day when the equity benchmark indices declined 1 per cent each.

Bharti Hexacom's initial public offering received 29.88 times subscription on the last day of bidding on April 5.

This was the first public issue of the financial year 2024-25.

The company's Rs 4,275 crore initial share sale was open for public subscription from April 3-5. The company had fixed a price band of Rs 542-570 per share for the Initial Public Offer (IPO).

The company's IPO was entirely an Offer For Sale (OFS) of 7.5 crore equity shares, indicating a 15 per cent stake by Telecommunications Consultants India Ltd, with no fresh issue component.

Bharti Hexacom provides telecommunication services in Rajasthan and the Northeast.

The Bharti group's previous IPO of Bharti Infratel, now known as Indus Towers, was in 2012.