Exicom Tele-Systems shares make stellar debut, list at 87% premium

The Shares of EV charger maker Exicom Tele-Systems Ltd listed at a premium of nearly 87 per cent against the issue price of Rs 142 on Tuesday i.e. March 5. It began the trade at Rs 265, up 86.61 per cent on the NSE (National Stock Exchange).

On the BSE, the stock made its debut at Rs 264, rising sharply by 85.91 per cent from the issue price of Rs 142. It later zoomed 93.27 per cent to Rs 274.45.

The company commanded a market valuation of Rs 2,857.50 crore. The Initial Public Offering (IPO) of Exicom Tele-Systems Ltd got subscribed a whopping 129.52 times on the last day of subscription on Thursday.

The Rs 429 crore initial share sale had a fresh issue of equity shares aggregating up to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares worth Rs 100 crore, at the upper end of the price band, by promoter NextWave Communications.

Exicom Tele-Systems is a power management solutions provider and operates under two business verticals -- EV (Electrical Vehicle) charger solutions business and power solutions business.

With PTI Inputs