Exicom Tele Systems IPO Day 3Check latest details

The Initial Public Offering (IPO) of Exicom Tele-Systems concluded on Thursday after drawing strong interest from financiers throughout its three-day membership duration.

The general membership stood at 133.56 times the deal size, showing a strong need for the business’s shares.

On the last day of membership, all financier classifications revealed strong membership. The retail classification saw a membership rate of 124.27 times, followed by 124.82 times in the Qualified Institutional Buyer (QIB) classification, and an excellent 159.29 times in the Non-Institutional Investor (NII) classification.

With a deal of 1,76,72,400 shares, quotes were gotten for 2,36,04,10,100 shares.

Since February 29, 2024, the Grey Market Premium (GMP) for Exicom Tele-Systems stood at Rs 151, meaning a prospective listing cost of around Rs 293, marking a significant gain of 106.34 percent per share from the problem cost.

The IPO, valued at Rs 429 crore, makes up a fresh concern of 2.32 crore shares worth Rs 329 crores and a sell of 70 lakh shares totaling up to Rs 100 crores. Opening for membership on February 27, 2024, the IPO closed on February 29, 2024, with allocation anticipated to be finished by Friday, March 1, 2024. The business’s shares are set to note on both the BSE and NSE tentatively on Tuesday, March 5, 2024.

Financiers had the chance to purchase the Exicom Tele-Systems IPO within a rate band of Rs 135 to Rs 142 per share, with a minimum lot size of 100 shares. Retail financiers were needed to invest a minimum of Rs 14,200, while Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB) required to invest Rs 213,000 and Rs 1,008,200 respectively.

The book running lead supervisors for the Exicom Tele Systems IPO consisted of Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, and Systematix Corporate Services Limited, with Link Intime India Private Ltd working as the registrar for the concern.