Many people put a lot of money into buying shares of Exicom Tele Systems when it first became available to the public.
They wanted to buy more than what was actually available by over 133 times. This means there was a lot of demand for the shares.
Even before officially being listed, the value of the company’s shares increased in what’s called the gray market.
This means people are willing to pay more than the original price for them. If this continues, those who invested may double their money on the first day.
The IPO for Exicom Tele Systems started on February 27, 2024, and ended on February 29, 2024.
It’s expected that the shares of Exicom Tele Systems might be listed at a price higher than Rs 290. During the IPO, the price range for the shares was between Rs 135 to Rs 142.
But in the gray market, people are willing to pay as much as Rs 151 for them.
If the shares are listed at the highest price of Rs 142, they could be sold for around Rs 293, meaning investors might make a profit of about 107% on the first day.
The shares are set to be listed on March 5, 2024.
The demand for Exicom Tele Systems IPO was incredibly high, with it being subscribed over 133 times.
Retail investors wanted shares 124.27 times more than what was available for them. Non-Institutional Investors wanted them even more, about 159.29 times.
Qualified institutional buyers also showed a high interest, subscribing 124.82 times.
During the IPO, retail investors could bid for at least 1 lot and at most 14 lots, with each lot containing 100 shares. This means they had to invest at least Rs 14,200.
