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Business News/ Markets / Ipo/  Exicom Tele-Systems IPO: Issue subscribed 27.78 times on day 2; retail portion booked 64.79x; check GMP, other details
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Exicom Tele-Systems IPO: Issue subscribed 27.78 times on day 2; retail portion booked 64.79x; check GMP, other details

Exicom Tele-Systems IPO size is ₹429 crore which 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.

Exicom Tele Systems IPO price band is fixed at ₹135 to ₹142 per equity share. (Photo: Company Website)Premium
Exicom Tele Systems IPO price band is fixed at 135 to 142 per equity share. (Photo: Company Website)

Exicom Tele-Systems IPO: The initial public offering (IPO) of Exicom Tele-Systems has been heavily oversubscribed led by strong demand across categories of investors.

Exicom Tele-Systems IPO opened for public subscription on February 27 and was fully subscribed within hours of opening. The IPO will close on Thursday, February 29.

The IPO allotment is expected to be finalised on March 1 and the equity shares of the company are slated for listing on March 5 on both the stock exchanges, BSE and NSE.

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 27.78 times in total on Wednesday, the second day of the bidding process. The public issue received bids for 50.62 crore equity shares as against 1.82 crore shares on the offer, as per data available on BSE.

The IPO has been subscribed 64.79 times in the retail category, and 54.39 times in the Non-Institutional Investors’ (NII) category so far. The Qualified Institutional Buyers’ (QIB) portion is booked 4.48 times.

Also Read: Exicom Tele-Systems IPO Day 2: Check latest GMP, subscription status, other details; should you subscribe?

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 183 per share.

This indicates that the equity shares of Exicom Tele Systems are trading at a premium of 128.87% at 325 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 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 National Stock Exchange (NSE), on March 5.

Exicom Tele-Systems IPO Details

The bidding for Exicom Tele-Systems IPO commenced on February 27 and will conclude on February 29. The IPO price band is 135 to 142 per share and the investors can bid for a minimum of 100 equity shares and its multiples thereafter.

Exicom Tele-Systems IPO size is 429 crore which 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 IPO raised 178.05 crore from anchor investors.

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 National Stock Exchange (NSE), on March 5.

Also Read: Juniper Hotels share price makes a tepid debut, stock opens with a mere 1.4% premium at 365 apiece on NSE

Exicom Tele-Systems is an electric vehicle (EV) charging solution company and operates in two key business areas of - Critical Power, which comprises its 70% of revenue and Electric Vehicle Chargers, where it commands a market share of 60% and 25% in the residential and public charging segments, respectively.

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.

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

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 28 Feb 2024, 12:58 PM IST
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