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Business News/ Markets / Ipo/  Exicom Tele Systems IPO day 1: GMP, review, subscription status, other details. Buy or not?
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Exicom Tele Systems IPO day 1: GMP, review, subscription status, other details. Buy or not?

Exicom Tele Systems IPO GMP: Shares of the EV charging solution company are available at a premium of ₹129 in the grey market today, say market observers

Exicom Tele Systems IPO price: The EV Charging company has fixed price band of the public issue at ₹135 to ₹142 per equity share. (Photo: Courtesy company website)Premium
Exicom Tele Systems IPO price: The EV Charging company has fixed price band of the public issue at 135 to 142 per equity share. (Photo: Courtesy company website)

Exicom Tele Systems IPO: The initial public offering (IPO) of Exicom Tele-Systems Limited has hit the Indian primary market today. The public issue will remain open till 29th February 2024. This means the initial issue will remain open from Tuesday to Thursday this week. The EV charging solution company has fixed the Exicom Tele Systems IPO price band at 135 to 142 per equity share. The book build issue is proposed for listing on BSE and NSE. The company aims to raise 429 crore from this public offer out of which 329 crore is aimed through the issuance of fresh shares. Before the issue opening, Exicom Tele-Systems IPO raises 178.05 crore from anchor investors. As per the Exicom Tele Systems IPO subscription status, the public issue has been fully subscribed within an hour of issue opening.

Meanwhile, ahead of the Exicom Tele Systems IPO subscription opening, the grey market has gone highly bullish on the book build issue. According to the stock market observers, shares of the EV charging solution company are available at a premium of 129 in the grey market today. A close review of the balance sheet of Exicom Tele-Systems Limited informs that in FY23, the company's revenue decreased by around 14.80 percent YoY despite the rise in PAT (Profit After Tax) by over 24 percent.

Exicom Tele Systems IPO subscription status

By 3.15 PM on day one of bidding, Exicom Tele Systems IPO got subscribed 6.88 times whereas its retail portion was booked 21.18 times. The NII portion of the book build issue was subscribed 12.44 times. The QIB portion of the public issue was booked 0.02 times.

Important Exicom Tele Systems IPO details

1] Exicom Tele Systems IPO GMP: Shares of the EV charging company are available at a premium of 129 in the grey market today, say market observers.

2] Exicom Tele Systems IPO date: The book build issue has opened today and will end on 29th February 2024.

3] Exicom Tele Systems IPO price: The EV Charging company has fixed price band of the public issue at 135 to 142 per equity share.

4] Exicom Tele Systems IPO size: The company aims to raise 429 crore from its initial offer out of which 329 crore is aimed through the issuance of fresh shares. The remaining 100 crore is reserved for Offer for Sale (OFS).

5] Exicom Tele Systems IPO lot size: A bidder will be able to apply in lots and one lot will comprise 100 shares of the company.

Infographic: Courtesy mintgenie
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Infographic: Courtesy mintgenie

6] Exicom Tele Systems IPO allotment date: Finalization of share allocation can be expected on 1st March 2024.

7] Exicom Tele Systems IPO registrar: Link Intime India Limited has been appointed as the official registrar of the book build issue.

8] Exicom Tele Systems IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Exicom Tele Systems IPO listing date: The public issue may be listed on 5th March 2024.

Exicom Tele Systems IPO: Buy or not?

10] Exicom Tele Systems IPO review: Giving a 'subscribe' tag to the public issue, Dhruv Mudaraddi, Research Analyst at Stoxbox said, "We assign a “SUBSCRIBE" rating to the issue as ETL emerges as a significant player within the global telecommunications power industry, poised to capitalize on the evolving landscape driven by smartphone adoption, 5G deployment, and the proliferation of Internet of Things (IoT) devices. With clear objectives post-IPO encompassing the establishment of production facilities, debt repayment, investment in R&D, and bolstering working capital, ETL demonstrates a proactive approach toward addressing market demands and capitalizing growth opportunities. Additionally, leveraging its early mover advantage, ETL has established itself as a formidable player within the EV charger industry, fortified by a vertically integrated operational model that encompasses manufacturing and supply chain capabilities."

Advising the primary market investors to apply for the Exicom Tele Systems IPO, VLA Ambala, a SEBI registered analyst, and Co-Founder of Stock Market Today said, "Exicom Tele-Systems, dominating the EV charging market with a 60% share, is opening its IPO for subscription from February 27 to 29, 2024, to raise 429 crores at a price range of 135 to 142 per share. Despite divesting its battery business, the company's forecasted earnings and expansion strategies signal robust growth potential. The offering includes a mix of fresh issues and an offer for sale. With a solid track record of client retention and a significant increase in net PAT, the IPO is recommended for investors looking for a 15%-40% listing premium."

Some other leading brokerages like BP Equities, Nirmal Bang, and SBI Securities have also assigned a 'subscribe' tag to the public issue.

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

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 27 Feb 2024, 09:15 AM IST
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