Bharti Airtel’s subsidiary Bharti Hexacom’s IPO witnessed a strong response from investors during the last day of bidding process. A total of 1,23,24,80,626 bids were placed as against 4,12,50,000 equity shares offered. The issue was subscribed 29.88 times. The firm sold its shares in the price band of Rs 542-570 apiece.
Qualified institutional buyers (QIBs) took the lead, buying 48.57 times the allotted quota. The allocation for retail investors was subscribed 2.83 times, while the portion reserved for non-institutional investors saw a subscription of 10.52 times. Investors were able to apply for a minimum of 26 equity shares and in multiples thereafter.
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