Exicom Tele-Systems makes robust debut; lists 86% higher over issue price

Exicom Tele-Systems (Exicom) made a healthy stock market debut with its shares listing 85 per cent higher at Rs 270.30 against its issue price of Rs 142 per share on the BSE on Tuesday. The stock was listed at Rs 270 on the National Stock Exchange (NSE).

Post listing, the stock moved higher to Rs 274.30, a premium of 93 per cent over the issue price. At 10:02 am, it was quoting at Rs 271.50 on the BSE. In comparison, the S&P BSE Sensex was down 0.39 per cent at 73,586.

Exicom’s IPO was subscribed 133.56 times, with non-institutional investors (NII) leading from the front as they bid 159.29 times their allotted quota.