Exicom Tele-Systems registers bumper listing. Book profit or hold?

New Delhi,UPDATED: Mar 5, 2024 11:25 IST

Shares of Exicom Tele-Systems made an impressive debut on the stock exchanges listing at a premium of nearly 87 per cent to the IPO price on Tuesday, March 5.

The stock was listed at Rs 264 on BSE, a premium of 86 per cent over its issue price of Rs 142 apiece. Similarly, the stock was listed at a premium of 86.62 per cent on the given issue price at Rs 265 on the NSE.

Exicom shares had a Grey Market Premium (GMP) of Rs 160 in the grey market ahead of the debut.

The latest share price for Exicom Tele Systems at the time the article was being written was Rs 248.45 (74.96 per cent) on BSE and Rs 247.80 (74.51 per cent) on NSE.

Should you sell or hold?

Exicom Tele-Systems' listing, while not quite hitting the pre-listing hype, is a strong showing and underscores the company's potential. The oversubscription and listing premium demonstrate investor confidence in the company's prospects.

"We suggest investors hold their position with a stop loss at 235 and monitor the stock's performance closely. However, those who want to book listing gains may exit their position," Shivani Nyati, Head of Wealth at Swastika Investmart Ltd said on the post-listing view of Exicom Tele-Systems.

Nyati further said that Exicom Tele-Systems, is a top player in India's EV charger market, had a solid stock market debut at Rs. 265 per share, representing an 86.6 per cent premium over its IPO price of Rs. 142, although it didn't meet the higher pre-listing expectations possibly due to negative market sentiment.

Exicom Tele-Systems IPO subscription The IPO was subscribed a solid 129.54 times on the third day of its closing. It saw strong interest from qualified institutional bidders (QIBs), whose portion was booked 121.80 times. The quota for non-institutional investors was subscribed 153.22 times. The portion reserved for retail investors was subscribed 119.59 times.