Exicom Tele-Systems IPO: Planning to invest? 10 key risks you should know before subscribing to the issue
Exicom Tele-Systems IPO: The initial public offering (IPO) of Exicom Tele-Systems has opened for subscription on Tuesday, February 27 and will close of February 29,2024. The electric vehicle (EV) charging solution company has fixed the price band at ₹135 to ₹142 per equity share for the face value of ₹10 each for the issue. Exicom Tele-Systems IPO is a book built issue of ₹429.00 crore.
The issue is a combination of fresh issue of 2.32 crore shares aggregating to ₹329.00 crore and offer for sale (OFS) of 0.7 crore shares aggregating to ₹100.00 crore by promoter NextWave Communications. The minimum lot size for an application is 100 shares. The minimum amount of investment required by retail investors is ₹14,200.
The company has reserved not less than 75 per cent of the issue for Qualified Institutional Buyers (QIB), not more than 10 per cent for retail investors and not more than 15 per cent for Non-Institutional Investors (NII). The promoters of the company, being the corporate Promoter, NextWave Communications Private Limited and the individual Promoter, Anant Nahata. Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd and Systematix Corporate Services Limited are the book running lead managers of the Exicom Tele-Systems IPO, while Link Intime India Private Ltd is the registrar for the issue.
Ahead of the issue opening, Exicom Tele-Systems has raised ₹178.05 crore from anchor investors. The company has also undertaken a pre-IPO placement of 52.59 lakh equity shares at an issue price of ₹135 per share aggregating to ₹71 crore. The allotment for the Exicom Tele-Systems IPO is expected to be finalized on Friday, March 1, 2024.
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