Exicom Tele-Systems IPO: 27.78x Subscription on Day 2, Retail Oversubscribed 64.79x; Explore GMP, More

The Exicom Tele-Systems initial public offering (IPO) has garnered significant attention from investors, displaying a robust demand across various investor categories.

Commencing public subscription on February 27, the Exicom Tele-Systems IPO witnessed full subscription within hours of opening, with the offering set to conclude on Thursday, February 29. Finalization of IPO allotments is anticipated by March 1, paving the way for the company’s equity shares to be listed on both the BSE and NSE stock exchanges come March 5.

Key details regarding the Exicom Tele-Systems IPO subscription status, Grey Market Premium (GMP), and other pertinent information are outlined as follows:

Exicom Tele-Systems IPO Subscription Status:

As of the second day of the bidding process, the Exicom Tele-Systems IPO has been oversubscribed by a substantial 27.78 times. Notably, the public issue received bids for 50.62 crore equity shares against the 1.82 crore shares offered, as per data from BSE. The retail category demonstrated particularly strong interest, with a subscription rate of 64.79 times, while the Non-Institutional Investors’ (NII) category saw a subscription rate of 54.39 times. The Qualified Institutional Buyers’ (QIB) portion was subscribed 4.48 times.

Exicom Tele-Systems IPO GMP Today:

The Grey Market Premium (GMP) for the Exicom Tele-Systems IPO surged significantly, reaching ₹183 per share. This indicates a premium of 128.87%, with the equity shares trading at ₹325 apiece in the grey market compared to the issue price of ₹142.

Exicom Tele-Systems IPO Details:

With a price band set between ₹135 to ₹142 per share, investors can bid for a minimum of 100 equity shares and multiples thereof. The IPO’s size amounts to ₹429 crore, comprising 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 IPO’s opening, Exicom Tele-Systems secured ₹178.05 crore from anchor investors.

In summary, the Exicom Tele-Systems IPO has garnered substantial investor interest, exemplified by its oversubscription and impressive Grey Market Premium. As the offering progresses towards allotment and subsequent listing, it reflects positive market sentiment and investor confidence in the company’s prospects.