Exicom Tele-Systems IPO Oversubscribed by 27.36 Times on Day Two

28 Feb 2024 , 04:53 AM

Exicom Tele-Systems’ initial public offering (IPO) was significantly oversubscribed, primarily due to high demand from a wide range of investor types.

Within hours of its public subscription opening on February 27, Exicom Tele-Systems’ initial public offering (IPO) was fully subscribed. On February 29, a Thursday, the IPO will end.

The company’s equity shares are scheduled for listing on the BSE and NSE stock exchanges on March 5, with the IPO allotment likely to be finalised by March 1.

Let us verify the subscription status of Exicom Tele-Systems IPO.

On Wednesday, the second day of the bidding process, the Exicom Tele-Systems IPO has received 27.36 times subscriptions in total. According to data available on the BSE until 16:55 pm, the public offering attracted bids for 49.86 Crore equity shares as opposed to 1.82 Crore shares on the offer.

Thus far, the IPO has received 64 times subscriptions from retail investors and 53.33 subscriptions from non-institutional investors (NII). There are 4.47 times subscriptions for the Qualified Institutional Buyers (QIB) segment.

Exicom Tele-Systems’ initial public offering (IPO) bidding opened on February 27 and will end on February 29. Investors may place a bid for a minimum of 100 equity shares and their multiples after that, with the IPO price range being ₹135 to ₹142 per share.

The amount of Exicom Tele-Systems’ initial public offering (IPO) is ₹429 Crore, consisting of an offer for sale (OFS) component of up to 70.42 lakh equity shares by promoter NextWave Communications and a new equity share issue of up to ₹329 Crore.

Anchor investors contributed ₹178.05 Crore to the Exicom Tele-Systems IPO prior to the issue opening.

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