On Friday, March 1, Exicom Tele-Systems is expected to finalize the basis of allotment of its recent initial public offering (IPO). In the event that funds are debited or the IPO mandate is revoked, bidders will receive emails, alerts, or messages over the weekend, at the latest by Monday. Investor response to the EV charging player had been very positive.
Exicom Tele-Systems set a price range of Rs 145-142 per share for its initial public offering (IPO). The publication date of the issue was February 27–29. With the help of a new share sale worth Rs 329 crore and an offer-for-sale (OFS) of up to 70.42 lakh equity shares, the company raised a total of Rs 429 crore from its primary offering.
Thanks to aggressive bidding by qualified institutional bidders (QIBs), whose share was booked 121.80 times, the issue was subscribed a solid 129.54 times. 153.22 times were non-institutional investors subscribed to the quota. There were 119.59 subscribes for the portion designated for retail investors.
Exicom Tele-Systems IPO allotment, Exicom Tele-Systems’ grey market premium (GMP) has somewhat decreased since the bidding process ended. As of the last hearing, the company was asking for a GMP of Rs 150–155 per share, meaning investors could expect a listing price of 106–110 percent. Previously, the GMP was Rs 180 apiece earlier.
Electric vehicle (EV) charging, power systems, and related solutions are the areas of expertise for Exicom Tele-Systems. Power systems and EV charging solutions are the two business verticals under which the company operates. It was incorporated in 1994. The business was one of the first to enter the Indian market for EV chargers.
Brokerage firms were largely optimistic about the matter, pointing to the government’s push for EVs, a growing market for EV chargers, and diversified business. Yet, they claimed that relying too much on a small number of important clients was detrimental.
The registrar for the Exicom Tele-Systems IPO is Link Intime India, and the book running lead managers of the offering are Unistone Capital, Monarch Networth Capital, and Systematix Corporate Services. On Tuesday, March 5, the company’s shares made their debut on the BSE and NSE.
Investors who placed a bid on the issue can visit the Bombay Stock Exchange (BSE) website to view the allocation status:
1) Go to https://www.bseindia.com/investors/appli_check.aspx
2) Select Equity under Issue Type.
3) In the dropbox, choose Exicom Tele-Systems Limited under the issue name.
4) Put the application number in writing.
5) The PAN card ID is added.
6) Click on “I am not a Robot” and press “Submit.”
The registrar of the issue, Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), offers an online portal for investors to check the status of their allotment.
As per the prospectus, the registrar processes all applications electronically and handles the allotment process. It is a qualified entity registered with Sebi. It is in charge of keeping track of when shares are updated electronically for those who are successful, sending and uploading refunds, and responding to any questions investors may have after the offer is made.
1) Visit Link Intime Limited’s website first.
2) Open Dropbox and choose the initial public offering (IPO), whose name will appear only after the allocation is confirmed.
3)Â PAN ID, Demat Account Number, or Application Number are the three modes that you might be asked to choose.
4) Choose between ASBA and non-ASBA, In the application type
5) Enter the information pertaining to the mode that you chose in Step 2.
6) Correctly complete the captcha for security reasons.
7) Press the submit button.
(Disclaimer: Businessuncover does not offer investment advice; rather, stock market news is provided for informational purposes only. Before making any investment decisions, readers are advised to speak with a licensed financial advisor.)
