Exicom Tele-Systems Zooms on Debut: Shares Surge 86% on NSE

5 Mar 2024 , 09:51 AM

Exicom Tele-Systems, a prominent player in the charging infrastructure sector, made a stellar debut on the stock exchanges, with its shares listing at a premium of 86%. On the NSE, the shares debuted at ₹265, marking an impressive 86.62% increase from the issue price of ₹142. Similarly, on the BSE, the shares opened at ₹264, reflecting a significant 85.92% premium.

The company’s IPO garnered exceptional interest from investors, with the subscription reaching nearly 130 times. Non-institutional investors emerged as the frontrunners, bidding a remarkable 152.22 times their allotted quota. Retail investors also displayed strong enthusiasm, subscribing 119.59 times, while qualified institutional buyers (QIBs) bid 121.80 times the reserved portion.

Exicom Tele-Systems operates as a leading provider of power management solutions, with a focus on two primary business verticals. Firstly, in the EV chargers business, the company offers cutting-edge smart charging systems tailored for residential, commercial, and public charging applications across India. Secondly, the company specializes in the design, manufacturing, and servicing of critical digital infrastructure technology.

The EV charger manufacturer aims to raise ₹429 Crore through its maiden public issue. The IPO comprises a fresh issue of shares worth ₹329 Crore by the company, alongside an offer-for-sale (OFS) of 70.42 lakh shares worth ₹100 Crore at the upper price band. This strong market debut underscores investor confidence in Exicom Tele-Systems’ growth prospects and its pivotal role in advancing India’s electric mobility and digital infrastructure ecosystem.