Investors are crazy about this IPO, indicating 100% profit from the gray market

New Delhi. The initial public offering (Exicom Tele Systems IPO) of EV charger manufacturing company Exicom Tele-Systems Limited has received strong investor support. The IPO was fully booked on the first day on February 27. This issue was subscribed 27 times on the second day yesterday i.e. Wednesday. Exicom Tele-Systems Limited IPO was 30.60% filled as of 10:30 AM today i.e. Thursday. Today is the last day to bid for shares of this issue. In the gray market, IPO shares are trading at a premium of more than 100 percent (Exicom Tele Systems IPO GMP Today).

The retail investor category of Axicom Tele-Systems Limited IPO was subscribed 71.61 times while the segment reserved for non-institutional investors (NIIs) was subscribed 64.59 times. The Qualified Institutional Buyers (QIB) section has been filled 4.49 times. 329 crores of new shares have been issued under the IPO. In addition, an offer for sale (OFS) of 70.42 lakh equity shares worth Rs 100 crore has been made.

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The price band is Rs 135-142.
Axicom Tele Systems has set a price band of Rs 135-142 for its public offering and investors can bid for 100 shares in a lot and the allotment of shares will be finalized on Friday, March 1. will . Withdrawal and transfer of shares to demat accounts is expected to start from Monday, March 4. The listing of the stock is expected on March 5.

More than double GMP
Unlisted shares of Exicom Tele Systems IPO are making waves in the gray market. According to IPO Watch, shares of this IPO are trading at a premium of Rs 179 today. This means that those who invest in the issue can get a 120% listing benefit. However, it is not necessary that if the IPO shares are trading at a premium in the gray market, its listing in the stock market should also be at a premium.

Brokerage advised to invest money.
Rajan Shinde, research analyst at Mehta Equities, has given Axicom Tele Systems IPO a ‘Subscribe’ rating, according to a report in LiveMint. Due to its early entry into EV charger manufacturing and strategic partnerships with automotive OEMs and charging station operators, the company has risen to a market leader position, Shinde says.

Arun Kejriwal, founder of Kejriwal Research and Investment Services, is also expecting huge listing benefits from the Axicom Tele Systems IPO. Kejriwal says the issue has received strong investor support. However, it is difficult for a retail investor to understand the company’s business model. But, still he should invest in this issue for listing profit.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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