Exicom Tele-Systems IPO: The preliminary public providing of Exicom Tele-Systems Ltd, which will likely be closed on Thursday, February 29, has acquired an honest response from buyers. Till 10:39 am on the ultimate day of bidding on Thursday, February 29, the Rs 429-crore IPO acquired 33.47 occasions subscription, garnering bids for 59,15,65,900 shares as in opposition to 1,76,72,400 shares on supply.
The Exicom Tele-Systems IPO was opened for public subscription on Tuesday, February 27. The value band of the IPO has been fastened at Rs 135 to Rs 142 per share.
The retail class has acquired 75.67 occasions subscription and the non-institutional quota bought 69.81 occasions subscription. The QIB quota has been subscribed 4.60 occasions.
The allotment of the Exicom Tele-Systems IPO will happen on March 1, whereas its itemizing will happen on each NSE and BSE on March 5, 2024.
Exicom Tele-Systems IPO GMP Today
According to market observers, unlisted shares of Exicom Tele-Systems Ltd (ETSL) are buying and selling Rs 165 increased within the gray market as in contrast with its difficulty value. The Rs 165 gray market premium or GMP means the gray market is anticipating a 116.2 per cent itemizing acquire from the general public difficulty. The GMP relies on market sentiments and retains altering.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the difficulty value.
Exicom Tele-Systems IPO: Should You Subscribe?
Assigning the ‘subscribe’ ranking, brokerage Anand Rathi in a notice stated, “At the upper price band of Rs.142, ETSL is available at a P/E of 31x (FY24E annualised), which appears to be fully priced. Considering the EV sector’s robust outlook, Company’s first mover advantage in both power management solutions and EV charging infrastructure, improving financial and operational track record and future expansion plans, we assign a ‘Subscribe’ rating on a medium to long-term basis.”
It added that Exicom Tele-Systems Ltd’s (ETSL) income grew from Rs 512.9 crore in FY21 to Rs 707.9 crore in FY23, representing a CAGR of 17.5 per cent, whereas its PAT grew from Rs 12.7 crore in FY21 to Rs 31 crore in FY23 at a CAGR of 56.5 per cent. In FY23, the corporate’s key efficiency indicators of ROE stood at 13.4 per cent and ROCE at 13.7 per cent.
“In H1FY24, revenue from operations more than doubled to Rs 455 crore and net profit of Rs 27.4 crore as against a loss a year ago,” Anand Rathi stated.
Exicom Tele-Systems IPO Details
The Exicom Tele-Systems IPO is a mix of a recent difficulty of two.32 crore shares aggregating to Rs 329.00 crores and a proposal on the market of 0.7 crore shares aggregating to Rs 100 crore.
Exicom Tele-Systems IPO opens for subscription on February 27, 2024, and closes on February 29, 2024. The allotment for the Exicom Tele-Systems IPO is predicted to be finalized on Friday, March 1, 2024. Exicom Tele-Systems IPO will listing on BSE and NSE with a tentative itemizing date fastened as Tuesday, March 5, 2024.
Exicom Tele-Systems IPO value band is about at Rs 135 to Rs 142 per share. The minimal lot dimension for an software is 100 shares. The minimal quantity of funding required by retail buyers is Rs 14,200. The minimal lot dimension funding for small NII is 15 tons (1,500 shares), amounting to Rs 2,13,000, and for giant NII, it’s 71 tons (7,100 shares), amounting to Rs 10,08,200.
Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd and Systematix Corporate Services Limited are the e book-operating lead managers of the Exicom Tele-Systems IPO, whereas Link Intime India Private Ltd is the registrar for the difficulty.
