Exicom Tele-Systems Shares Surge 61% on Market Debut

New Delhi, Mar 5 (PTI) After making a spectacular debut earlier in the day, shares of EV charger maker Exicom Tele-Systems Ltd ended with a huge premium of nearly 61 per cent against the issue price of Rs 142.

The stock made its debut at Rs 264, rising sharply by 85.91 per cent from the issue price on the BSE.

During the day, it zoomed 93.27 per cent to Rs 274.45. Shares of the company ended at Rs 225.65, up 58.90 per cent.

At the NSE, the stock began the trade at Rs 265, up 86.61 per cent. It ended at Rs 228.40, up 60.84 per cent.

The company commanded a market valuation of Rs 2,726.40 crore.

In traded volume terms, 19.25 lakh shares of the company were traded at the BSE and over 3.52 crore shares at the NSE during the day.

The Initial Public Offering (IPO) of Exicom Tele-Systems Ltd got subscribed a whopping 129.52 times on the last day of subscription on Thursday.

The Rs 429 crore initial share sale had a fresh issue of equity shares aggregating up to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares worth Rs 100 crore, at the upper end of the price band, by promoter NextWave Communications.

The IPO had a price range of Rs 135-142 a share.

Exicom Tele-Systems is a power management solutions provider and operates under two business verticals -- EV (Electrical Vehicle) charger solutions business and power solutions business.