A company called Bharti Hexacom started trading on April 12. Its shares were sold for Rs 570, but when it started trading, the price was Rs 755, which is 32.4% higher.
This was more than what experts thought would happen.
Before this, Bharti Hexacom raised a lot of money from investors. Big investors like Capital Group, Fidelity, Blackrock, and ADIA were part of it. They helped the company raise about Rs 1,924 crore.
The company’s IPO (Initial Public Offering) was a big deal in India, with people subscribing to buy the shares nearly 30 times more than what was available.
Big investors subscribed 48.57 times more, while smaller ones did 10.52 times more. Even regular people showed interest and subscribed almost 3 times more.
Bharti Hexacom provides phone and internet services, mainly in Rajasthan and the North East. They have millions of customers and a wide network of stores.
In the last year, the company’s profit went down by 67.2% to Rs 549.2 crore.”
