Investors have responded fairly well to Exicom Tele-Systems Ltd.’s initial public offering, which started on Tuesday. On Wednesday, February 28, the second day of bidding ended at 5:15 p.m. The Rs 429-crore initial public offering (IPO) got 30.53 times its subscription amount, with offers for 50,72,94,700 shares against the 1,66,16,168 shares that were offered.
On Thursday, February 29, 2024, the Exicom Tele-Systems initial public offering will conclude. The initial public offering’s price range is set at between Rs 135 and Rs 142 per share.
About Exicom Tele Systems IPO
The IPO consists of an offer to sell 70.42 lakh shares and a new equity issue valued at Rs 329 crore. The business secured around Rs 178 crore from anchor investors prior to the issue opening.
Exicom Tele Systems IPO Price
For its public offering, Exicom Tele Systems has set a price range of Rs 135–142. Investors can place bids for 100 shares in a single lot and in multiples of that amount after that.
Exicom Tele Systems IPO GMP
Market watchers report that unlisted shares of Exicom Tele-Systems Ltd (ETSL) are trading on the grey market for Rs 170 more than the company’s issue price. With a grey market premium of Rs 170, or GMP, the grey market anticipates a listing gain of 119.72% from the public offering. The GMP is dynamic and dependent on market mood.
The willingness of investors to pay over the issue price is shown by the “grey market premium.”