In this IPO season, Exicom Tele system has made its mark in the markets. The power management solutions opened for subscription on February 27, 2024, and will close on February 29, 2024.
On the final day of bidding, the grey market sentiment remains bullish regarding Exicom Tele Systems IPO.
The Grey Market Premium (GMP) for Exicom Tele Systems IPO today is Rs 179, marking an increase of Rs 9 compared to Wednesday's GMP of Rs 170.
Here, The Grey Market Premium (GMP) reflects the difference between the price at which shares are being traded in the unofficial market before their official listing on the stock exchange and the IPO price. This is where trade happens outside of the stock market.
IPO oversubscribed 27.78 times
The public issue has been oversubscribed 27.78 times after two days of bidding. Meanwhile, on the final day of bidding, the grey market sentiment remains bullish regarding Exicom Tele Systems IPO. Oversubscription happens when total number of application for subscription exceeds the available number of shares on-offer.
The IPO subscription ratio indicates how many times the shares offered in an IPO have been bid for by investors. It's calculated by dividing the total number of shares bid for by the total number of shares offered by the company.
It seems like there's significant interest from retail investors, with the retail portion being oversubscribed by 64.79 times. Usually, a minimum 35 per cent of the book is reserved for retail investors.
NII Subscription sees a rise
Additionally, the Non-Institutional Investor (NII) portion has been subscribed 54.39 times, indicating strong demand from high-net-worth individuals and other non-retail investors. These NII's usually consist of High Net worth persons and NRIs.
Meanwhile, in numbers that are lower than the other two, qualified Institutional Buyer (QIB) portion has been subscribed 4.48 times.
Exicom's potential
Founded in 1994, this energy solutions company dabbles in Critical Power Solutions Business, as it specializes in designing, manufacturing, and servicing DC Power Systems and energy storage solutions.
Its second wing of trade can deemed as one of the reasons behind the surge in subscription, as Exicom also manages its EV Charger Business, the company avails charging systems for residential, business, and public use.
In the EV/Hybrid car rush towards a sustainable transition, Exicom's portfolio including AC and DC chargers, EV charging rectifiers, EV battery management systems and Li-ion batteries is perhaps seen by many as avenue with potential.
