After launching at ₹755 per share on the NSE, Bharti Hexacom share price quickly reached an intraday high of ₹824.90.
Today’s stock market: Bharti Hexacom’s share price opened on the BSE and NSE today at a massive 32% premium above the equity share’s issue price of ₹542 to ₹570. The firm that owns the “Airtel” name listed its shares on the BSE at ₹755.20 per share, but during the special pre-open session on the NSE, the issue opened at ₹755 per share. But Bharti Hexacom’s share price continued to rise after listing at a massive 32% premium, reaching an intraday high of ₹824.90 on NSE and ₹824.70 on BSE.
Stock market experts claim that even though the Bharti Hexacom IPO was entirely OFS, primary investors responded favorably to it. They claimed that while a substantial premium is better than expected, a healthy listing was anticipated following the high subscription. Long-term investors were urged to retain the scrip for more upside, nevertheless, as they continued to believe that the recently listed stock still had some momentum.
Bharti Hexacom share price outlook
Speaking on Bharti Hexacom share price, Prashanth Tapse, Senior VP — Research at Mehta Equities said, “Despite 100% OFS, Bharti Hexacom listed above street estimates. Healthy listing is justified after receiving a solid response on the last day of its issue biding wherein QIB (48.57x) and NII (10.51x) investors looked more aggressive to grab midcap telecommunication growth story followed by muted retail investors interest who bided only 2.81 times to the allotted quota. Overall it got oversubscribed by 29.87x.”
According to the Mehta Equities expert, long-term investors have a fantastic opportunity to own mid-cap suppliers of telecom solutions and to participate in the long-term structural rise of ARPU in India’s telecom industry. Additionally, Bharti Hexacom’s anchor book features prominent international investors including Capital Group, Fidelity, Blackrock, and ADIA joining in advance of the IPO opening, providing additional comfort to other investors who wish to block money for the long run.
According to Prathamesh Masdekar, Research Analyst at StoxBox, “The company enjoys extensive market coverage and penetration, evidenced from its number one position in the highly competitive North-East circle alongside a formidable second position in the Rajasthan circle.” Masdekar highlighted the strong fundamentals that could propel Bharti Hexacom shares further. Furthermore, improving return on capital used and judicious capital allocation are two major areas of concentration, which are reflected in capital expenditures for both spectrum and non-spectrum investment. As a result, we continue to have high hopes for the company’s future growth and counsel investors who have been allocated to hold shares for the medium to long term.”
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According to Prathamesh Masdekar, Research Analyst at StoxBox, “The company enjoys extensive market coverage and penetration, evidenced from its number one position in the highly competitive North-East circle alongside a formidable second position in the Rajasthan circle.” Masdekar highlighted the strong fundamentals that could propel Bharti Hexacom shares further. Furthermore, improving return on capital used and judicious capital allocation are two major areas of concentration, which are reflected in capital expenditures for both spectrum and non-spectrum investment. As a result, we continue to have high hopes for the company’s future growth and counsel investors who have been allocated to hold shares for the medium to long term.
“On valuation at CMP ₹821, it is matching the listed peers and even trading on premium to its parent. Hence, considering all the parameters we recommend allotted investors to “HOLD” the Bharti Hexacom Ltd for a 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 Prashanth Tapse of Mehta Equities.
