Airtel initiates IPO process for its subsidiary Bharti Hexacom

IREDA has listed its shares and the bidding for the IPO began on November 21, 2023 and ended on November 23, 2023. The allotment was finalised on November 24, 2023. The IPO price band was set at Rs 30 – Rs 32 per share. The stock listed at Rs 50 on both the NSE and BSE, representing a 56 per cent premium to the IPO price of Rs 32. The market cap of the company rose to Rs 224.93 billion. Prior to the IPO, IREDA raised a total of Rs 6.43 billion from anchor investors such as Goldman Sachs, SBI Banking and Financial Services Fund, HDFC Mutual Fund, ICICI Prudential Midcap Fund, Nippon Life India AMC, DSP Tax Saver Fund, BNP Paribas Arbitrage, Societe Generale, etc.