BENGALURU - Indian telecom operator Bharti Hexacom received bids worth 702.51 billion rupees ($8.43 billion) in its initial public offering, outpacing its offer size of 42.75 billion rupees, exchange data showed on Friday.

Investors bid for 1.23 billion shares at a price range of 542 to 570 rupees per share, which was 29.88 times more than the 41.2 million shares offered, data from the National Stock Exchange of India showed.