One lot of Exicom Tele-Systems Limited issue contains 100 shares. This issue has received tremendous support from investors in two days. The listing of shares of Exicom Tele-Systems Limited will take place on March 5.
New Delhi. The initial public offering (Exicom Tele Systems IPO) of EV charger maker Exicom Tele-Systems Limited has received tremendous support from investors. This IPO was fully subscribed on the first day itself on 27 February. Yesterday i.e. Wednesday, on the second day, this issue was subscribed 27 times. Today i.e. Thursday, till 10:30 am, Exicom Tele-Systems Limited IPO was 30.60 percent subscribed. Today is the last day to bid for the shares of this issue. In the gray market, the shares of the IPO are trading at a premium of more than 100 percent (Exicom Tele Systems IPO GMP Today).
The retail investors’ category of Exicom Tele-Systems Limited IPO has received 71.61 times subscription while the section reserved for non-institutional investors (NII) has been subscribed 64.59 times. The portion of qualified institutional buyers (QIB) has been filled 4.49 times. New shares worth Rs 329 crore have been issued under the IPO. Apart from this, an offer for sale (OFS) of 70.42 lakh equity shares worth Rs 100 crore has been made in it.
The price band is Rs 135-142
Exicom Tele Systems has fixed a price band of Rs 135-142 for its public offer and investors can bid for 100 shares in one lot and shares in multiples thereafter. The allotment of shares will be finalised on Friday, March 1. Refunds and transfer of shares to demat accounts are expected to commence on Monday, March 4. The listing of the stock is expected to take place on March 5.
More than double the GMP
The unlisted shares of Exicom Tele Systems IPO are making a splash in the grey market. According to IPO Watch, today the shares of this IPO are trading at a premium of Rs 179. This means that those investing in the issue can get 120 percent listing gain. However, it is not necessary that if the shares of an IPO are trading at a premium in the grey market, then its listing in the stock market should also be at a premium.
Brokerage advised to invest money
According to a report by Live Mint, Rajan Shinde, research analyst at Mehta Equities, has given a ‘Subscribe’ rating to Exicom Tele Systems IPO. Shinde says that the company has come into the position of market leader due to its early entry into EV charger manufacturing and strategic partnerships with automotive OEMs and charging station operators.
Arun Kejriwal, founder of Kejriwal Research and Investment Services, also expects the Exicom Tele Systems IPO to give tremendous listing gains. Kejriwal says that this issue has received tremendous support from investors. However, it is difficult for a retail investor to understand the company’s business model. But still, he should invest in this issue for listing gains.
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Tags: Money Making Tips, Stock market, IPO
FIRST PUBLISHED : February 29, 2024, 11:32 IST