Exicom Tele-Systems Limited’s equity shares debuted on the BSE and NSE today, opening at a whopping 86% premium above the issue price of ₹135 to ₹142 per share. Exicom’s stock price began trading at ₹265 on the NSE, but it closed at ₹224.95 on the NSE.
But despite a great start on Dalal Street, Exicom’s share price was unable to maintain at such a premium, and profit booking quickly ensued. After listing, the price of Exicom Tele-Systems shares fell to a low of ₹233.10 per share on the NSE in a matter of minutes. The stock formed an Intraday low of ₹219.00.
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