Exicom Tele-Systems IPO allotment status: Check application, latest GMP and listing date

Exicom Tele-Systems IPO allotment status: Check application, latest GMP and listing date

Exicom Tele-Systems is likely to finalise the basis of allotment of its recent IPO on Friday, March 1. Bidders will get messages, alerts or emails for debit of funds or revocations of IPO mandate over the weekend or latest by Monday. The EV charging player had received a strong response from investors.

Exicom Tele-Systems sold its IPO in the price band of Rs 145-142 per share. The issue ran from February 27 to February 29. The company raised a total of Rs 429 crore from its primary offering, which included a fresh share sale of Rs 329 crore and offer-for-sale (OFS) of up to 70.42 lakh equity shares.

The issue was subscribed a solid 129.54 times, thanks to strong bidding from qualified institutional bidders (QIBs), whose portion was booked 121.80 times. The quota for non-institutional investors was subscribed 153.22 times. The portion reserved for retail investors was subscribed 119.59 times.

Grey market premium (GMP) of Exicom Tele-Systems has eased a bit following the closure of the bidding process. Last heard, the company was commanding a GMP of Rs 150-155 per share, suggesting a listing pop of 106-110 per cent for investors. The GMP stood at Rs 180 apiece earlier.

Exicom Tele-Systems specialises in power systems, electric vehicle (EV) charging, and other related solutions. The company was incorporated in 1994, and operates under two business verticals – power systems and EV charging solutions. The company is among the first to enter India’s EV charger manufacturing segment.

Brokerage firms were mostly positive on the issue, as they cited rising market of EV chargers, diversified business and the government’s push on EVs. However, dependence on a few major customers was a negative, they said.

Unistone Capital, Monarch Networth Capital and Systematix Corporate Services are the book running lead managers of the Exicom Tele-Systems IPO, while Link Intime India is the registrar for the issue. Shares of the company debuted on both BSE and NSE on Tuesday, March 5.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Exicom Tele-Systems Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on ‘I am not a Robot’ and hit submit

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of Link Intime Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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