Exicom Tele-Systems IPO GMP today

On Thursday, the public issue’s grey market premium (GMP) is ₹179, as against ₹170 on the previous day.

“The GMP has surged today despite sharp selling pressure in the secondary market on Wednesday. A strong response by the investors could be the possible reason for this bullish grey market sentiment,” Mint quoted market experts as saying.

Exicom Tele-Systems IPO subscription status

By 11:39 am on the third day of bidding, the public issue was booked 37.85 times, while the retail portion was subscribed 79.64 times. The non-institutional investors (NIIs) portion was booked 83.19 times, and the qualified institutional buyers (QIBs) segment, 4.58 times.

After the first two days, the IPO stood booked 27.78 times, retail portion 64.79 times, NII segment 54.39 times, and QIB section, 4.48 times.

To subscribe or not?

Rajan Shinde, a research analyst at Mehta Equities, gave a ‘subscribe’ tag for listing gain.

“We believe the company’s early entry into EV charger manufacturing and strategic partnerships with automotive OEMs and charging station operators have solidified their market leadership position. Hence, considering all parameters, we are recommending investors to “SUBSCRIBE” the issue for listing perspective only,” Shinde said.

Arun Kejriwal, Founder, Kejriwal Research and Investment Services, expected ‘strong’ listing gain from the bookbuild issue.

“The public issue has received a strong response by investors across segments and the issue has been priced at attractive valuations as well. However, the business model of the company is slightly difficult to understand for a retail investor. So, my suggestion to the primary market investors is to at least apply for the listing premium,” Kejriwal told the website.

(Disclaimer: The views mentioned above are only of individual experts/firms)