Bharti Hexacom IPO fully subscribed on the second day of the issue

The initial public offering (IPO) of Bharti Hexacom was subscribed 1.12 times on Thursday, the second day of the issue. The retail portion of the issue was subscribed 1.15 times, the high net worth individual portion 1.71 times and the institutional investor portion 0.82 times.

Bharti Hexacom, a subsidiary of Bharti Airtel, operates in the Rajasthan and the Northeast telecommunication circles. Airtel holds a 70 per cent stake in the company, while the government of India holds the remaining 30 per cent through Telecommunications Consultants India (TCIL). In the IPO, TCIL is selling a 15 per cent stake. The price band for the IPO is Rs 542-570 per share. At the top end, the IPO size is Rs 4,275 crore, making it the largest issue in almost a year.