New Delhi (India), February 26: Exicom Tele Systems IPO GMP latest price: According to several websites that track grey market activities, Exicom Tele Systems shares are trading at a premium of Rs 130 apiece in the grey market over the upper band.
Exicom Tele Systems IPO is scheduled to open for the public subscription on Tuesday, February 27, 2024. The three-day subscription window will close on Thursday, February 29, 2024. The public issue is available at a price band of Rs 135-142 per share.
According to several websites that track grey market activities, Exicom Tele Systems shares are trading at a premium of Rs 130 apiece in the grey market over the upper band. This translates into a GMP of 91 per cent premium.
The IPO comprises of fresh issue of 2.32 crore shares aggregating up to Rs 329 crore and offer for sale with promoters offloading 0.7 crore shares aggregating to Rs 100 crores. Investors can bid for a minimum of 100 shares and in multiples thereof. The minimum amount required by a retail investor is Rs 14,200.
Exicom Tele Systems aims to utilise the net proceeds from the public issue for the part-financing the cost towards setting up production/assembly lines at the planned manufacturing facility in Telangana, and repayment/pre-payment, in part or full, of certain borrowings of the company. The remaining would be used to part-funding incremental working capital requirements, investment in R&D and product development as well as for general corporate purposes.
The basis of allotment of shares is scheduled for Friday, March 1, 2024, and the shares are likely to be credited to the demat account on Monday, March 4, 2024. The shares of Exicom Tele Systems are scheduled to debut on the bourses on Tuesday, March 5, 2024.
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