Bharti Hexacom’s IPO is the country’s largest since Mankind Pharma raised 43.3 billion rupees a year ago. Its strong debut could help open a window for more large deals in India, dubbed by bankers as one of the hottest spots for first-time share sales in Asia this year.
Shares of telecom service provider Bharti Hexacom surged about 43% in their Mumbai debut after completing India’s largest initial public offering in about a year.
The stock closed at 813.30 rupees ($13.25), after rising as much as 54% to 880 rupees during the intra-day trading on Friday. Shareholder Telecommunications Consultants India sold 75 million shares in the company at 570 rupees apiece last week, the top of a marketed range, raising 42.75 billion rupees.
