Bharti Hexacom listing is on Friday and after a great subscription drive, investors would be looking at the market numbers tomorrow to see if their hunches about the counter have come true. For the moment, everyone’s eyes are on Bharti Hexacom GMP and the grey market premium is definitely making hopes rise even though there is nothing there that is based on any official input. So, make sure that you take that with not just a pinch of salt, but a lot of it as things can change drastically and that too, very quickly.
Bharti Hexacom GMP is reportedly at 90 and if you take the top price band of ₹570, then the listing may happen with a 16% gain, according to a report by the Economic Times. Boosting investor sentiment has been the steady rise of the wider markets and that has been happening on a global scale. In fact, stocks and gold have been rising together with minor hiccups here and there, indicating that investor sentiment is at a high all around. And that translates well in terms of market growth.
Read More: What women @work in tech want – Job satisfaction to benefits, read all about it
Arun Kejriwal, founder of Kejriwal Research and Investment Services had an explanation about the logic of it all. Mint quoted him as saying, “If we go back to the valuation, and take a look at the P/E multiple and the other factors, the issue was offered roughly at a 12–15% discount to Bharti Airtel. This 12–15% discount turns as grey market premium.”
Bharti Hexacom, a unit of Bharti Airtel, had quite a successful ₹4,275 crore IPO. The subscription was 28.99 times and the biggest buyer emerged in the form of QIBs, grabbing 48.57 times their quota. NIIs too were in double digits at 10.52 times while the retail investors were at 2.83 times their allocation.
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
