The company is providing an opportunity for investors to acquire shares within a specified price range of Rs 135 to Rs 142 per share, with a minimum application size of 100 equity shares, thus offering a diverse range of investment options to potential shareholders.
The Initial Public Offering (IPO) of Exicom Tele Systems has garnered significant attention from investors, with a subscription rate of 30.70 times recorded by the end of the second day of its public issue, indicating a strong demand for the company's shares.
Notably, the retail category witnessed an exceptionally high subscription rate of 68.35 times, followed by 5.13 times in the Qualified Institutional Buyer (QIB) category and 56.73 times in the Non-Institutional Investor (NII) category.
With the IPO offering 1,66,16,168 shares, bids for 51,00,51,200 shares have already been received, underscoring the robust investor interest in the company's shares.
As of February 28, 2024, the last Grey Market Premium (GMP) for Exicom Tele Systems stood at Rs 165. Based on the price band of Rs 142.00, the anticipated listing price is projected to be around Rs 307, potentially yielding a gain of 116.20 percent per share.
The Exicom Tele Systems IPO, featuring a book-built issue size of Rs 429 crore, encompasses a fresh issue of 2.32 crore shares worth Rs 329 crore and an offer for sale of 70 lakh shares amounting to Rs 100 crore.
Commencing on February 27, 2024, the IPO is slated to conclude on February 29, 2024, with the allotment process expected to be finalized on Friday, March 1, 2024.
The company's shares are set to be listed on the BSE and NSE, with a tentative listing date scheduled for Tuesday, March 5, 2024.
Prospective investors in the Exicom Tele-Systems IPO have the opportunity to participate within a price band ranging from Rs 135 to Rs 142 per share, with a minimum lot size of 100 shares. Retail investors are required to make a minimum investment of Rs 14,200, while Non-Institutional Investors (NII) need to invest a minimum of 15 lots (1,500 shares), amounting to Rs 213,000, and Qualified Institutional Buyers (QIB) must invest a minimum of 71 lots (7,100 shares), totaling Rs 1,008,200.
Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, and Systematix Corporate Services Limited are serving as the book-running lead managers for the Exicom Tele-Systems IPO, with Link Intime India Private Ltd acting as the registrar for the issue.
