Tele Systems News Today

The IPO of Exicom Tele Systems received massive subscription and the shares are trading with a premium. Net proceeds will be used for production lines, debt repayment, and research and development.

The initial public offer (IPO) of Exicom Tele Systems was subscribed 38.43 times so far on Thursday, the final day of the bidding process.

Exicom Tele-Systems is selling its shares in the price band of Rs 135-142 apiece. Investors can apply for a minimum of 100 shares and its multiples thereafter.

The portion for non-institutional investors was booked 24.85 times while the qualified institutional buyers (QIB) quota was booked 0.74 times.

Exicom Tele-Systems is selling its shares in the price band of Rs 135-142 apiece. Investors can apply for a minimum of 100 shares and its multiples thereafter.

The initial public offer (IPO) of Exicom Tele Systems sailed through on Tuesday, the first day of the bidding process. The issue subscribed 1.38 times, receiving over 2.52 crore share bids around 11:15 am against the 1.82 crore shares available for subscription.

The company is offering shares at a set price ranging from Rs 135 to Rs 142 each, with a minimum application size of 100 equity shares.

In the week gone by, two mainboard IPOs Juniper Hotels and GPT Healthcare opened with a target to raise Rs 2,325 crore.

The company aims to raise approximately Rs 429 crore through the offering.

At the upper price band, the post issue implied market cap is around Rs 1,716 crore. Investors can make bids for 100 shares in one lot and in multiples thereafter.