The initial public offering (IPO) of Exicom Tele Systems Limited, an EV charging solution company, made its debut on Dalal Street on Tuesday, February 27, 2024.
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The public issue is set to close on February 29, 2024, giving investors a window of three days to participate. The price range for Exicom Tele Systems IPO is fixed at Rs 135 to Rs 142 per equity share.
This IPO is a book built issue, aiming to raise Rs 429 crore, with Rs 329 crore coming from the issuance of fresh shares and Rs 100 crore from the offer for sale.
The IPO is expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with a tentative listing date of March 5, 2024.
Investors looking to participate should note that the minimum lot size for an application is 100 shares, requiring a minimum investment of Rs 14,200. For specific investor categories like non-institutional investors (NII), the minimum investment varies.
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For sNII, it’s 15 lots (1,500 shares), amounting to Rs 213,000, and for bNII, it’s 71 lots (7,100 shares), amounting to Rs 1,008,200.
The book running lead managers for the IPO are Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, and Systematix Corporate Services Limited, while Link Intime India Private Ltd will serve as the registrar.
Before the IPO opening, Exicom Tele-Systems raised Rs 178.05 crore from anchor investors, indicating strong initial interest. Market observers have noted high bullishness in the grey market, with shares trading at a premium of Rs 129.
Despite a slight decline in revenue in FY23, the company reported a rise in profit after tax (PAT) by over 24 percent. This performance, coupled with the enthusiasm in the grey market, has generated significant attention towards the IPO.
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The finalisation of share allocation is expected on March 1, 2024, with Link Intime India Limited serving as the official registrar.Â
