Exicom Tele Systems IPO: After the completion of the share allotment, the allottees are eagerly waiting for the IPO date of Exicom Tele Systems, which will most likely be on March 5, 2024, i.e. tomorrow. With the T+3 listing rule becoming mandatory from December 1, 2024, the public issue is expected to hit the Indian Stock Exchange tomorrow, but an official confirmation from the Indian Stock Exchanges is yet to be received. Meanwhile, the gray market was extremely bullish on the book building theme ahead of the announcement of Exicom Tele Systems' IPO. According to stock market observers, Exicom Tele Systems shares are available at a premium of ₹156 per share.
Exicom Tele Systems IPO GMP today
The market watchers said that Exicom Tele Systems' IPO today is GMP (Gray Market Premium). ₹156, which means that Exicom Tele Systems stock price has remained almost stable in the gray market over the past three days. They said that the strong reaction from primary market investors and strong positive sentiment on Dalal Street could be the possible reasons for the bullish sentiment in the gray market regarding this book building issue. They said major benchmark indices hit a new high on Friday and they extended their rally in Saturday's special trading session.
Exicom Tele Systems IPO Price Prediction
Market observers added that Exicom Tele Systems' IPO was GMP today ₹156, which means Exicom Tele Systems' listing price would be around 156 ₹298 ( ₹142+ ₹156), which is around 110 percent above Exicom Tele Systems' IPO price range ₹135 tonnes ₹142 per share. This means that the gray market signals a multibagger return to the lucky allottees on the listing date.
Infographic: Courtesy of mintgenie
However, stock market experts emphasized that GMP should be taken seriously as it has no connection with the company's balance sheet. They added that the gray market is unregulated and includes even those who have a high interest in the public matter. They advised participants in the Exicom Tele Systems IPO to stick to the conviction they developed after reviewing the balance sheet of the book-build issue.
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