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Business News/ Markets / Ipo/  Exicom Tele Systems IPO subscribed 10.02 times on day 1, retail portion booked over 27 times; check GMP, other details
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Exicom Tele Systems IPO subscribed 10.02 times on day 1, retail portion booked over 27 times; check GMP, other details

Exicom Tele-Systems IPO opened for subscription on February 27 and will close on February 29. The IPO price band has been fixed at ₹135 to ₹142 per share. Investors can bid for a minimum of 100 equity shares and its multiples thereafter.

Exicom IPO price band has been fixed at ₹135 to ₹142 per share. (Photo: Company Website)Premium
Exicom IPO price band has been fixed at 135 to 142 per share. (Photo: Company Website)

Exicom Tele Systems IPO: The initial public offering (IPO) of Exicom Tele-Systems was subscribed 10.02 times on the first day of issue after being fully subscribed within hours of opening led by stellar demand from retail investors.

Exicom Tele Systems IPO hit the Indian primary market and opened for subscription today, February 27 and will remain open till Thursday, February 29.

Exicom Tele Systems is an EV charging solution company and plans to raise 429 crore from this public offer.

Let us check Exicom Tele Systems IPO subscription status, GMP and other key details:

Exicom Tele Systems IPO Subscription Status

Exicom Tele Systems IPO has been subscribed 10.02 times by the end of the first day of subscription. The public issue received bids for 18,26,60,500 equity shares as against 1,82,23,540 shares on the offer, as per data available on BSE.

The IPO has been subscribed 27.17 times in the retail category, and 19.04 times in the Non-Institutional Investors’ (NII) category. The portion reserved for Qualified Institutional Buyers (QIB) was booked 73% on the first day.

Read here: Exicom Tele Systems IPO fully subscribed: GMP, review, subscription status, other details. Buy or not?

Exicom Tele Systems IPO GMP Today

Exicom Tele Systems IPO is commanding a hefty premium in the grey market on Tuesday. The Exicom Tele Systems IPO GMP today, or grey market premium today, is 170 per share.

This indicates that the equity shares of Exicom Tele Systems are trading at a premium of 119.72% at 312 apiece in the grey market as against the issue price of 142.

 

Exicom Tele-Systems IPO allotment is likely to be fixed on March 1 and the equity shares are slated for listing on both the stock exchanges, BSE and the National Stock Exchange (NSE), on March 5.
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Exicom Tele-Systems IPO allotment is likely to be fixed on March 1 and the equity shares are slated for listing on both the stock exchanges, BSE and the National Stock Exchange (NSE), on March 5.

Exicom Tele Systems IPO Details

Exicom IPO opened for subscription on February 27 and will close on February 29. The IPO price band has been fixed at 135 to 142 per share. Investors can bid for a minimum of 100 equity shares and its multiples thereafter.

The 429 crore worth Exicom Tele-Systems IPO comprises a fresh issue of equity shares totaling up to 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares by promoter NextWave Communications.

Ahead of the issue opening, Exicom Tele-Systems has raised 178.05 crore from anchor investors. The company has also undertaken a pre-IPO placement of 52.59 lakh equity shares at an issue price of 135 per share aggregating to 71 crore.

Also Read: Platinum Industries IPO fully booked in less than an hour of opening; retail, NII portion gets full subscription

NextWave Communications holds a majority stake of 76.55% in the company, while HFCL has a 7.74% stake in the firm. The promoters collectively hold 93.28% stake in Exicom Tele-Systems.

Exicom Tele-Systems IPO allotment is likely to be fixed on March 1 and the equity shares are slated for listing on both the stock exchanges, BSE and the National Stock Exchange (NSE), on March 5.

The company proposes to utilize the funds raised from the fresh issue towards setting up production lines at the manufacturing facility in Telangana, investment in R&D as well as product development, and payment of debt, to support working capital requirements and for general corporate purposes.

Monarch Networth Capital, Systematix Corporate Services, and Unistone Capital Services are the book-running lead managers for Exicom Tele-Systems IPO, while Link Intime India Private Ltd is the IPO registrar.

Read all IPO news here

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Published: 27 Feb 2024, 11:30 AM IST
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