According to the data, the investors made bids for 1,27,60,90,100 equity shares, or 70.02 times, compared to the 1,82,23,540 equity shares offered for the subscription by 2.35 pm on Thursday, February 29. The bidding opened for bidding on Tuesday, February 27 and concludes today itself.
The allocation for retail investors was subscribed 101.53 times, while the portion reserved for non-institutional investors saw a subscription of 130.07 times. However, the quota set aside for qualified institutional bidders (QIBs) attracted bids for 33.29 times as of the same time.
Exicom Tele-Systems, which was incorporated in 1994, specializes in power systems, electric vehicle (EV) charging, and other related solutions. The company operates under two business verticals – power systems and EV charging solutions. The company is among the first to enter India’s EV charger manufacturing segment.
The initial public offering (IPO) of Exicom Tele-Systems continued to witness a robust response from the investors during final day of the bidding process. The issue was overall subscribed 10.32 times on day one and ended day two with 27.8 times subscription.
Exicom Tele-Systems is selling its shares in the price band of Rs 135-142 apiece. Investors can apply for a minimum of 100 shares and its multiples thereafter. It is looking to raise Rs 429 crore via IPO, which entirely includes fresh shares worth Rs 329 crore and offer-for-sale (OFS) of up to 70,42,200 equity shares by its promoter NextWave Communications.
The grey market premium of Exicom Tele-Systems has seen a sharp surge after first day’s bidding. The company is commanding a premium of Rs 155-160 in the unofficial market, citing a listing pop of around 110-112 per cent for the investors. However, the premium in the grey market stood around Rs 130 earlier, when the issue was announced.
Brokerage firms are mostly positive on the issue, suggesting to subscribe to it citing the rising market of EV chargers, diversified business in the segment and government’s push on EVs. However, stretched valuations, dependence on a few major customers and any adverse policy may dent its financials.
Exicom Tele-Systems has raised Rs 178 crore from anchor investors as it allocated 1,25,38,800 equity shares at a price of Rs 142 apiece. The company has reserved 75 per cent of the offer to qualified institutional bidders (QIBs), with non-institutional investors receiving 15 per cent, and the remaining 10 per cent allocated to retail investors.
Exicom Tele-System established player in the Indian EV Charger market, with an early-mover-and-learner advantage in a fast-growing industry characterized by high entry barriers and domain experience and know-how and diversified product portfolio with a track record of demonstrated outcomes in critical cases with vertically integrated operations, said Anand Rathi Research.
“At the upper price band, the company is valuing at P/E of 28 times, EV/EBITDA 33.98 times with a market cap of Rs 1,715.7 crore post issue of equity shares and return on net worth of 13.38 per cent. We believe that the IPO is fairly priced and recommend a ‘subscribe for long term’ rating to the IPO,” it added.Unistone Capital, Monarch Networth Capital and Systematix Corporate Services are the book running lead managers of the Exicom Tele-Systems IPO, while Link Intime India is the registrar for the issue. Shares of the company are likely to be listed on both BSE and NSE on Tuesday, March 5.
The Exicom Tele-Systems IPO opened to an upbeat response from the investors on Tuesday, February 27, as the public issue was fully subscribed within hours on the first day.
The initial public offer (IPO) was subscribed over 8.24 times with bids for 15,01,44,900 shares compared to 1,82,23,540 shares on offer, according to NSE data (as of 4pm).
The Exicom Tele-Systems IPO subscription window will remain open between 27 to 29 February.
The retail individual investor (RII) portion of the public issue received the highest bidding, while the non-institutional investors’ (NIIs) segment also saw a strong demand. The retail portion was subscribed 23.84 times with biddings for a total of 7.48 crore shares compared to 31.41 lakh shares reserved for the category. The NIIs portion received applications for more than 6.97 crore shares against 47.11 lakh shares reserved for the segment. The NIIs portion was subscribed 14.8 times, according to the NSE data.
The qualified institutional buyers’ (QIBs) segment of Exicom Tele-Systems IPO was booked 71% with biddings for 73.91 lakh shares against 1.03 shares set aside for the category.
Exicom Tele-Systems IPO share allotment and other details
The Exicom Tele-Systems IPO share allotment is expected to be finalised on March 1. Credit of shares into allottees’ demat accounts and a refund for investors who won’t secure shares will be initiated on March 4.
Shares in Exicom Tele-Systems IPO are expected to be listed on BSE and NSE on March 5.
The EV charger maker has appointed Unistone Capital Pvt Ltd, Monarch Networth Capital Ltd and Systematix Corporate Services Limited as the book-running lead managers for the IPO. Link Intime India Private Ltd is the registrar for the public issue.
Exicom Tele-Systems corporate promoter NextWave Communications Private Limited and individual promoter Anant Nahata along with other promoter’s group presently hold 91,101,408 equity shares aggregating to 98.60% stake in the company.
Incorporated in 1994, the company is a specialist in power systems, electric vehicle (EV) charging, and other related solutions. The company’s business can be classified broadly into two verticals EV charging solutions and power systems.
A pioneer in EV charger manufacturing in India, the company claims to command a market share of 60% and 25% in the residential and public charging segments, respectively. Exicom Tele-Systems has deployed 35,000 EV chargers across 400 locations in India.
Exicom Tele-Systems’ clientele includes companies like MG Motors, Reliance BP Mobility Limited (JioBP), Mahindra and Mahindra, JBM and Lithium Urban Technologies.
How to check status on the registrar’s website?
Follow these steps to check the IPO share allotment status on the website of Link Intime India Private Ltd.
- Go to Link Intime India Pvt ltd website (https://www.linkintime.co.in/)
- Click on Investor Services and select Public Issues.
- Choose GPT Healthcare from the dropdown list for company names. The company name will not appear on the list if the share allotment is not finalised.
- Enter either your PAN, application No, DP/Client ID or Account No/IFSC
- Click on the ‘Submit’ button to check allotment status.
Steps to check IPO share allotment status on NSE website
- Visit NSE website (https://www.nseindia.com).
- Login with username and password (Investors need to create username and password on the official website of NSE for checking the IPO allotment status).
- Select GPT Healthcare IPO.
- Verify PAN details.
- Enter IPO application Number.
- Click on Submit.
GPT Healthcare Ltd IPO details
The GPT Healthcare Ltd IPO was subscribed over 8.5 times on the final day of the bidding on February 26. The issue opened for subscription on February 22.
Drawing a decent demand from investors, the initial public offering garnered bids for more than 16.84 crore shares as against 1.97 crore (1,97,63,327) equity shares on offer.
According to the exchange data, the qualified instructional buyers’ (QIBs) segment of the maiden public offer received the strongest response. The QIBs segment received applications for 9.76 crore (9,76,84,000) equity shares compared to 56.46 lakh (56,46,664) shares on offer, resulting in oversubscription of more than 17.3 times.
The non-institutional investors (NII) category of GPT Healthcare Ltd IPO received applications for 4.66 crore (4,66,54,160) equity shares against 42.34 lakh (42,34,999) shares set aside for the segment. The category was subscribed 11.02 times.
The retail individual investors (RII) category received applications for 2.40 crore (2,40,89,440) equity shares against 98.98 lakh (98,81,664) equity shares on offer, reflecting subscription 2.44 times.
GPT Healthcare IPO Details
GPT Healthcare IPO comprised a fresh issue of around ₹40 crore and on offer for shares component of ₹485 crore or 26,082,786 equity shares. The company fixed the IPO price band at ₹177 to ₹186 per share for the issue. The lot size of GPT Healthcare IPO was 80 shares. The minimum investment was ₹14,880 for retail investors.
The hospital chain will utilise the IPO proceeds for paying debt obligations and financing other general corporate purposes.
About GPT Healthcare Ltd
GPT Healthcare Ltd operates a chain of multi-specialty hospitals under the ILS Hospitals brand mainly in eastern India. The total bed capacity is 560 across its four hospitals. It is focused on secondary and tertiary care hospital services. The company also offers diagnostic and pharmacy service.
Platinum Industries IPO subscription date, issue size and price band
The Platinum Industries IPO will remain open for bidding from February 27 to February 29. The share allocation to anchor investors is slated for February 26, Monday. After the close of bidding, the Platinum Industries IPO share allotment process is likely to be finalised on Friday, March 1.
Shares are expected to be credited in the demat accounts of successful bidders by March 4. The listing of the Platinum Industries stock on both Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) is likely on Tuesday, March 5.
The Platinum Industries IPO is a 100% book-built issue. The ₹235-crore IPO comprises entirely a fresh issuance of 1.38 crore shares of ₹10 face value each, with no offer for sale (OFS) component.
The Platinum Industries IPO price band has been fixed at ₹162-171 per share. The lot size is 87 shares, which means investors can bid for a minimum of 87 equity shares and in multiples thereafter.
This translates into a minimum application amount of ₹14,877 for retail investors, considering the upper end of the price band.