Exicom Tele-Systems share price makes a bumper debut, stock opens with 86.62% premium at ₹265 on NSE

Exicom Tele-Systems share price made a stellar debut on the bourses today. On NSE, Exicom Tele-Systems share price opened at ₹265 per share, 86.62% higher than the issue price of ₹142. On BSE, Exicom Tele-Systems share price today opened at ₹264 apiece, up 85.92% than the issue price.

Experts anticipated Exicom Tele-Systems share price to list in the range of ₹282 to ₹299 range.

Also Read: Exicom Tele Systems IPO listing date today. GMP, experts see up to 110% return for share allottees

Exicom Tele-Systems received strong demand from investors across categories and the issue was heavily oversubscribed. Exicom Tele-Systems IPO was subscribed 129.54 times on the last day. The IPO was subscribed 119.59 times in the retail category and 153.22 times in the Non-Institutional Investors’ (NII) category. The Qualified Institutional Buyers’ (QIB) portion was booked 121.80 times.

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Also Read: Exicom Tele Systems IPO: GMP signals robust listing gain for share allottees

Exicom Tele-Systems IPO price band was fixed in the range of ₹135 to ₹142 per equity share of face value of ₹10. Exicom Tele-Systems IPO lot size was 100 equity shares and in multiples of 100 equity shares thereafter. Exicom Tele-Systems IPO, raised ₹178 crore from the anchor investors on Monday, February 26.

It reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors.

Also Read: Exicom Tele-Systems allotment status out. What GMP signals ahead of share listing date

Exicom Tele-Systems IPO details

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.

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 utilise 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 Limited, Unistone Capital Private Limited, and Systematix Corporate Services Limited are the BRLM to the issue, and the Link Intime India Private Limited is the registrar to the offer.

Also Read: Exicom Tele Systems IPO day 3: GMP, subscription status, review, other details. Apply or not as bidding ends today?

Exicom Tele-Systems IPO GMP today

Exicom Tele-Systems IPO GMP or grey market premium is +160. This indicates Exicom Tele-Systems share price was trading at a premium of ₹160 in the grey market, as per investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the Exicom Tele-Systems IPO expected listing price is indicated at ₹302 apiece, which is 112.68% higher than the IPO price of ₹142.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Exicom Tele Systems IPO: Issue subscribed 129.54 on last day; retail portion booked 119.59x; check GMP

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