Bharti Hexacom lists at Rs 755, a premium of 32.5% to the issue price on the National Stock Exchange. While on BSE, the shares got listed at Rs 755.20. 

The company had a price band set at Rs 542 to Rs 570 per equity share. Bharti Hexacom IPO collected Rs 4,275 crore from the investors by offering them an entire offer for sale of 75 million shares. 

Bharti Hexacom IPO GMP Today

In the grey market, Bharti Hexacom’s shares were seeing a 25% premium to the issue price. The grey market is an unofficial market where shares change hands illegally. However, investors track the grey market to take cues on the performance. 

The company opened its retail bidding on April 03 and ended its bidding on April 05. A retail investor will have to bid for a minimum of 26 shares amounting to Rs 14,820. While for NII the minimum investment was Rs 2,07,480.

SBI Capital Markets, ICICI Securities, Axis Capital, Bob Capital Markets, and IIFL Securities were the book-running lead managers of the IPO. Kfin Technologies was the registrar for the issue.

“We initiate coverage on Bharti Hexacom with a BUY rating and a target price of Rs 790/share based on 10x FY26 EV/EBITDA (in line with the implied valuation of Bharti’s India wireless business at CMP), implying a 39% upside. Though a higher multiple can be argued for BHL given a 2-3% higher EBITDA growth potential, we have used 10x multiple factors in potential concentration risk due to Bharti Hexacom’s entire dependence on Rajasthan and North Eastern circles and also on wireless business. The stock could potentially double in 3-4 years on the back of a 15-17% EBITDA compounding story. We see Bharti Hexacom as a midcap pure-play on wireless ARPU growth story vis-à-vis Bharti (which sees 25-30% of its value coming from other than Indian wireless business). Key triggers: structural uptrend in ARPU (average revenue per user) via regular tariff hikes and upgrades/data monetisation,” said JM Financial. 

Despite 100% OFS, Bharti Hexacom IPO received solid response on the last day of its issue biding, said Prashanth Tapse, Senior Vice President of Research at Mehta Equities in a pre-listing comment.

Bharti Hexacom IPO Listing Today Price Prediction

“We expect Bharti Hexacom to list a healthy 10-12% higher to its issue price of Rs 570/-,” said Mehta Equities.

Healthy listing around 10-12% is justified due to a great opportunity for long-term investors to hold mid-cap telecommunications solutions providers and to play long-term India’s telecom structural ARPU growth story. 

“…considering all the parameters we recommend allotted investors to “HOLD” the Bharti Hexacom Ltd for long-term perspective only while those investors who wish to add on the listing days can wait and watch the space post-listing performance and accumulate on dips,” said Mehta Equities in a pre-listing comment.