Exicom Tele Systems IPO Opens Tomorrow: Know GMP, Issue Size & Price Band

Exicom Tele Systems IPO Date: Exicom Tele-Systems, a manufacturer of EV chargers, will commence its IPO subscription period from February 27 to February 29. The anchor book will be accessible starting February 26. The public offering includes a fresh issue of shares valued at Rs 329 crore and an offer-for-sale of 70.42 lakh shares.

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Exicom Tele-Systems specialises in power management solutions, operating within two primary business verticals. One of these verticals is the EV chargers business, wherein it offers smart charging systems tailored for residential, commercial, and public charging applications across India.

NextWave Communications, Satellite Finance, and Vinsan Brothers own 76.55 percent, 4.64 percent, and 4.35 percent stakes in the company, respectively. Additionally, HFCL holds a 7.74 percent stake. HFCL’s stock has surged over 30 percent year-to-date, largely attributed to the forthcoming IPO of Exicom.

Exicom Tele Systems IPO Price Band

The public offering is priced within a range of Rs 135 to Rs 142 per share.

Exicom Tele Systems IPO GMP

As per various websites monitoring grey market activities, Exicom Tele Systems shares are currently trading at a premium of Rs 130 per share above the upper band in the grey market. This equates to a Grey Market Premium (GMP) of 91 percent.

Exicom Tele Systems IPO Issue Size

The IPO consists of a fresh issue of 2.32 crore shares, totaling Rs 329 crore, and an offer for sale wherein promoters are divesting 0.7 crore shares, amounting to Rs 100 crores.

Investors can bid for a minimum of 100 shares and in multiples thereof. The minimum amount required by a retail investor is Rs 14,200.

Exicom Tele Systems IPO Purpose

Exicom Tele Systems aims to utilise the net proceeds from the public issue for the part-financing of the cost towards setting up production/assembly lines at the planned manufacturing facility in Telangana, and repayment/pre-payment, in part or full, of certain borrowings of the company.

The remaining would be used to part-funding incremental working capital requirements, investment in R&D and product development as well as for general corporate purposes.

Exicom Tele Systems IPO Allotment

The basis of allotment of shares is scheduled for Friday, March 1, 2024, and the shares are likely to be credited to the demat account on Monday, March 4, 2024.

Exicom Tele Systems Listing Date

The shares of Exicom Tele Systems are scheduled to debut on the bourses on Tuesday, March 5, 2024.