Exicom Tele-Systems IPO Day 2: Check Subscription Status, GMP Today | Top Vip News

Exicom Tele-Systems IPO: The initial public offering of Exicom Tele-Systems Ltd, which opened on Tuesday, received good response from investors. Till 5:15 pm on the second day of bidding on Wednesday, February 28, the Rs 429 crore IPO received 30.53 times subscription, garnering bids for 50,72,94,700 shares against 1.66, 16,168 shares on offer.

The IPO of Exicom Tele-Systems will close on Thursday, February 29, 2024. The price band of the IPO has been set between Rs 135 and Rs 142 per share.

The retail category received 67.64 times subscription and the non-institutional share received 56.59 times subscription. The QIB quota has been subscribed 5.13 times.

The allotment of Exicom Tele-Systems’ IPO will take place on March 1, while its listing will take place on both NSE and BSE on March 5, 2024.

Exicom Tele-Systems IPO GMP today

According to market watchers, the unlisted shares of Exicom Tele-Systems Ltd (ETSL) are trading Rs 170 higher in the gray market compared to its issue price. The gray market premium of Rs 170 or GMP means that the gray market expects a listing gain of 119.72 per cent on the back of the public issue. The GMP is based on market sentiments and continues to change.

The ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.

Exicom Tele-Systems IPO: Should you subscribe?

Assigning the ‘subscription’ rating, brokerage Anand Rathi said in a note: “In the upper price band of Rs 142, ETSL is available at a P/E of 31x (FY24E annualized), which appears to have a complete price. Considering the strong prospects of the electric vehicle sector, the company’s first-mover advantage in both energy management solutions and electric vehicle charging infrastructure, improving financial and operational track record and future expansion plans, we assign a ‘Subscribe’ rating in the medium to long term.”

It added that Exicom Tele-Systems Ltd (ETSL) revenue increased from Rs 512.9 crore in FY21 to Rs 707.9 crore in FY23, representing a CAGR of 17.5 percent, while its PAT grew from Rs 12.7 crore in FY21 to Rs 31 crore in FY23. at a CAGR of 56.5 percent. In FY23, the company’s key performance indicators ROE stood at 13.4 percent and ROCE at 13.7 percent.

“In H1FY24, revenue from operations more than doubled to Rs 455 crore and net profit of Rs 27.4 crore compared to the loss a year ago,” Anand Rathi said.

Exicom Tele-Systems IPO details

Exicom Tele-Systems IPO is a combination of a fresh issue of 2.32 crore shares aggregating to Rs 329.00 crore and an offer for sale of 0.7 crore shares aggregating to 100 crores.

The Exicom Tele-Systems IPO opens for subscription on February 27, 2024 and closes on February 29, 2024. Allotment for the Exicom Tele-Systems IPO is expected to close on Friday, March 1, 2024. The IPO of Exicom Tele-Systems is listed on BSE and NSE with a tentative listing date set for Tuesday, March 5, 2024.

The price band for Exicom Tele-Systems’ IPO is set between Rs 135 and Rs 142 per share. The minimum lot size for an application is 100 shares. The minimum investment amount required by retail investors is Rs 14,200. The minimum lot investment for small NIIs is 15 lots (1,500 shares), worth Rs 2,13,000, and for large NIIs, it is 71 lots (7,100 shares), worth Rs 10,08,200.

Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd and Systematix Corporate Services Limited are the lead managers of the Exicom Tele-Systems IPO, while Link Intime India Private Ltd is the registrar of the issue.