Exicom IPO: Retail Segment Sees Strong Demand, Oversubscribed 8.23 Times

27 Feb 2024 , 03:51 AM

Within hours of its debut, Exicom Tele-Systems’ initial public offering (IPO) was fully subscribed thanks to strong demand from individual investors.

Click here to subscribe to the IPO

Today, February 27, marks the launch of Exicom Tele Systems’ initial public offering (IPO), which will be available for subscription until this Thursday, February 29.

With this public offering, EV charging solutions provider Exicom Tele Systems hopes to raise ₹429 Crore.

Let’s examine the IPO subscription status, and other important information for Exicom Tele Systems:

Tuesday, the first day of the bidding process, has seen a total of 8.23 times subscriptions for the Exicom Tele Systems IPO. According to statistics available on the BSE until 15:45 pm, the public offering got bids for 15.00 Crore equity shares as opposed to 1.82 Crore shares on the offer.

Thus far, the IPO has received subscriptions from retail investors 23.46 times and non-institutional investors (NII) 14.62 times. There have been 0.71 times the bids from the Qualified Institutional Buyers (QIB) on the offer yet.

The subscription period for the Exicom IPO began on February 27 and will end on February 29. A fixed price range of ₹135 to ₹142 per share has been set for the IPO. A minimum of 100 equity shares and their multiples thereafter are up for purchase.

Exicom Tele-Systems’ ₹429 Crore IPO consists of an offer for sale (OFS) component by promoter NextWave Communications of up to 70.42 lakh equity shares and a new issue of equity shares up to ₹329 Crore.

Exicom Tele-Systems has received ₹178.05 Crore from anchor investors prior to the issue launch. Additionally, the business has placed 52.59 lakh equity shares ahead of its initial public offering (IPO) at a price of ₹135 per share, for a total of ₹71 Crore.

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