Exicom Tele-Systems IPO: Issue subscribed 16 times so far on day 2; retail portion booked 44x; check GMP, other details

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Also Read: Exicom Tele-Systems IPO Day 2: Check latest GMP, subscription status, other details; should you subscribe? Exicom Tele-Systems IPO is commanding a hefty premium in the grey market on Tuesday. The Exicom Tele-Systems IPO GMP today, or grey market premium today, is ₹183 per share.

This indicates that the equity shares of Exicom Tele Systems are trading at a premium of 128.87% at ₹325 apiece in the grey market as against the issue price of ₹142. The bidding for Exicom Tele-Systems IPO commenced on February 27 and will conclude on February 29.

The IPO price band is ₹135 to ₹142 per share and the investors can bid for a minimum of 100 equity shares and its multiples thereafter. Exicom Tele-Systems IPO size is ₹429 crore which comprises 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 issue opening, Exicom Tele-Systems IPO raised ₹178.05 crore from anchor investors. Exicom Tele-Systems IPO allotment is likely to be fixed on March 1 and the equity shares are slated for listing on both the stock exchanges, BSE and National Stock Exchange (NSE), on March 5.

Also Read: Juniper Hotels share price makes a tepid debut, stock opens with a mere 1.4% premium at ₹365 apiece on NSE Exicom Tele-Systems is an electric vehicle (EV) charging solution company and operates in two key business areas of - Critical Power, which comprises its 70% of revenue and Electric Vehicle Chargers, where it commands a market share of 60% and 25% in the residential and public charging segments, respectively. NextWave Communications holds a majority stake of 76.55% in the company, while HFCL has a 7.74% stake in the firm.