iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Exicom Tele-Systems IPO sails through in 1 hour; Retail portion booked 5.51 times

27 Feb 2024 , 11:25 AM

The initial public offering (IPO) of Exicom Tele-Systems Limited, a manufacturer of EV chargers, has opened for subscription today and will remain available until February 29. The company has set the price band for the IPO at ₹135-142 per share, with investors being able to apply for 100 shares in a lot. Interested investors can subscribe to the IPO by clicking here.

On the first day of subscription, the issue was fully subscribed within an hour, with a subscription of 1.55 times. The retail portion received bids of 5.51 times against the reserved quota, while the non-institutional investors’ portion received a subscription of 2.78 times.

Prior to the IPO, the company raised ₹178 Crore from anchor investors.

As per the Red Herring Prospectus (RHP), the IPO comprises a fresh issue of equity shares worth ₹329 crore by the company and an offer-for-sale of up to 70.42 lakh equity shares by the promoter selling shareholder.

The proceeds from the IPO will be utilized towards setting up a new manufacturing facility in Telangana, repayment of borrowings, working capital requirements, and other general corporate purposes.

Exicom Tele-Systems operates in two major businesses: electric vehicle charging solutions and critical power solutions for telecommunication and enterprise sites. The company holds a 60% market share in residential and a 25% market share in public charging segments.

Monarch Networth Capital, Unistone Capital, and Systematix Corporate Services are the book-running lead managers, while Link Intime India is the registrar to the issue.

The IPO allotment is scheduled to be completed by March 1, 2024, with shares expected to be credited to the demat accounts of eligible investors by March 4. Trading in its equity shares is anticipated to commence on the BSE and the NSE from March 5.

Related Tags

  • Exicom Tele-Systems IPO
  • Exicom Tele-Systems IPO gmp
  • Exicom Tele-Systems IPO live details
  • Exicom Tele-Systems IPO news
  • Exicom Tele-Systems IPO subscription
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.