Bharti Hexacom IPO Allotment Status

Tanushree Jaiswal Tanushree Jaiswal 10th April 2024 - 10:51 am
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Building blocks of the Bharti Hexacom Limited Ltd IPO

Bharti Hexacom IPO, book-built issue worth Rs 4,275.00 crores, comprises entirely of offer for sale of 7.5 crore shares. Bharti Hexacom IPO bidding commenced for subscription on April 3, 2024, & is scheduled to conclude on April 5, 2024. 

Allotment for Bharti Hexacom IPO is anticipated to be finalized on Monday, April 8, 2024. Following this, IPO is set to list on both BSE & NSE, with tentative listing date fixed as Friday, April 12, 2024.

Bharti Hexacom IPO price band for has been established at ₹542 to ₹570 per share. Retail investors are required to apply for minimum lot size of 26 shares, entailing minimum investment of ₹14,820. For SNIIs, minimum lot size is 14 lots, equivalent to 364 shares, amounting to ₹207,480. 

Meanwhile, for BNII investors, minimum lot size is 68 lots, comprising 1,768 shares, totaling ₹1,007,760. Bharti Hexacom IPO purpose of Offer is to sell up to 75,000,000 Equity Shares owned by Selling Shareholder & to achieve benefits of listing Equity Shares on Stock Exchanges.

SBI Capital Markets Limited, Axis Capital Limited, Bob Capital Markets Limited, ICICI Securities Limited and Iifl Securities Ltd are the book running lead managers of the Bharti Hexacom IPO, while Kfin Technologies Limited is the registrar for the issue.

How to check allotment status of Bharti Hexacom Ltd IPO?

Since this is a Mainboard IPO, there is facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs. If you have applied for the IPO, you can check your allotment status also on the website of the IPO registrar, Kfin Technologies Ltd. Alternatively, if your broker provides you a link to access the allotment status, you can do the same. Here are the steps that you need to follow to check allotment status on the website of the IPO registrar, Kfin Technologies Ltd. The same can typically checked once the basis of allotment is finalized in this case, which will be late on April 8, 2024.

Checking the allotment status on Kfin Technologies Ltd (Registrar to IPO)

Visit the Kfin Technologies Ltd registrar website for checking the IPO allotment status by clicking on the link below:

https://kosmic.kfintech.com/ipostatus/

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Kfin Technologies Ltd by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.

Once you go to the main allotment status page of Kfin Technologies Ltd the investors have 2 options. They can either query for the IPO allotment status based on the Application Number or on the basis of a combination of DP ID and Client ID. Here is how you can go about both these options.

•    To Query by Application Number, click on the “Search on Application No.” hyperlink. This will take you to a fresh page with a box provided to input the application number. Here is what needs to be done.

o    Enter the Application Number as it is
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

•    To Query by DP-ID, click on the “Search on DP-id/Client id” hyperlink. This will take you to a fresh page with 2 boxes provided to input the DP ID and the Client ID in that order. Here is what needs to be done.

o    Enter the DP-ID
o    Enter the Client-ID
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

Kfin Technologies Ltd offers you the facility to toggle between the two search options of application number and DP id, without going back to the main page. It is a good idea to take a screenshot of the final output for your records and also for reconciliation with the demat account on the demat allotment date.

There are some basic rules to remember here. The basis of allotment is being finalized on April 8, 2024, so the investors would be able to access the online allotment status facility, either late on April 8, 2024 or by the middle of April 8, 2024. Once you get the online output, you can save a screenshot of the same, so that the same can be later reconciled with the demat credit on April 10, 2024 or later. It would appear on the demat account with ISIN Number.

How allocation quota and subscription impact basis of allotment?

Here is a quick look at how the allocation was made across different categories of investors in the IPO of Bharti Hexacom Ltd at the close of the IPO on April 5, 2024.

Investor Category Shares Allocated in IPO
Anchor Allocation 33,750,000 shares (45.00%)
QIB Shares Offered 22,500,000 shares (30.00%)
NII (HNI) Shares Offered 11,250,000 shares (15.00%)
Retail Shares Offered 7,500,000 shares (10.00 %)
Total Shares Offered 75,000,000  shares (100.00%)

Data Source: BSE

Subscription status of Bharti Hexacom IPO reflects significant interest from investors, with public issue being oversubscribed by 29.88 times by closing date of April 5, 2024. This level of oversubscription indicates strong demand for IPO shares.

Subscription from retail investors stood at 2.82 times, indicating moderate interest from individual investors. This suggests that retail investors are cautiously optimistic about IPO & its prospects. QIBs showed substantial interest, with subscription of 48.57 times. This robust demand from institutional investors highlights their confidence in company's fundamentals & growth potential.

NIIs also demonstrated significant interest, with subscription of 10.51 times. Within NII category, bids above ₹10 lakhs (bNII) recorded higher subscription of 12.27 times compared to bids below ₹10 lakhs (sNII) at 7.00 times. This suggests that larger investors have shown more enthusiasm for IPO compared to smaller ones.

Subscription figures indicate that IPO has garnered substantial attention across all investor categories. However, investors should exercise caution & conduct thorough due diligence before participating in IPO. Factors to consider include company's financial performance, industry outlook, competitive positioning, & valuation relative to peers.

Given strong demand for IPO shares, investors may need to strategize their approach, considering factors such as allotment probability & potential listing gains. Additionally, retail investors should evaluate their risk appetite & investment objectives before making any investment decisions.

Investor Category Subscription (times) Shares Offered Shares bid for Total Amount (Rs Cr.)
Qualified Institutions 48.57 22,500,000 1,09,29,25,340 62,296.74
Non-Institutional Buyers 10.52 11,250,000 11,83,11,882 6,743.78
 bNII (bids above ₹10L) 12.27 7,500,000 9,20,48,970 5,246.79
 sNII (bids below ₹10L) 7.00 3,750,000 2,62,62,912 1,496.99
Retail Investors 2.83 7,500,000 2,12,46,186 1,211.03
Employees [.] 0 0 0
Others [.] 0 0 0
Total 29.88 41,250,000 1,23,24,83,408 70,251.55

To sum it up, the oversubscription is quite modest, so the chances of allotment in the IPO would be relatively higher. This applies to the retail portion and also to the HNI / NII portion; as the subscription is very modest in both the categories.

Next steps in the IPO of Bharti Hexacom Ltd

With the IPO of Bharti Hexacom Ltd closed for subscription at the end of April 5, 2024, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on April 8, 2024 while the refunds would be initiated on April 10, 2024.

The shares of Bharti Hexacom Ltd would be credited to the demat accounts of eligible shareholders by the close of April 10, 2024 while the stock of Bharti Hexacom Ltd is expected to be listed on April 12, 2024. The listing will happen on the NSE Mainboard segment for small companies, which is distinct from the regular mainboard IPO space.

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very modest in the IPO; both in the Retail segment and also in the HNI / NII segment.

Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.

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