Exicom Tele-Systems IPO Allotment Status

Exicom Tele-Systems IPO Allotment Status
Exicom Tele-Systems IPO Allotment Status

by Tanushree Jaiswal Last Updated: Mar 01, 2024 - 12:02 am 992 Views
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About the Exicom Tele-Systems Ltd IPO

The IPO of Exicom Tele-Systems Ltd will be open from February 27th, 2024 to February 29th, 2024; both days inclusive. The stock of Exicom Tele-Systems Ltd has a face value of ₹10 per share and the price band for the book building IPO has been set in the range of ₹135 to ₹142 per share. The Exicom Tele-Systems IPO will be a combination of fresh issue of shares and an offer for sale (OFS) component in the IPO. The fresh issue tends to bring in fresh funds into the company, but is also EPS and equity dilutive. On the other hand, OFS is just a transfer of ownership. The fresh issue portion of the IPO of Exicom Tele-Systems Ltd comprises the issue of 2,31,69,014 shares (231.69 lakh shares approximately), which at the upper price band of ₹142 per share will translate into a fresh issue size of ₹329 crore.

The offer for sale (OFS) portion of the IPO of Exicom Tele-Systems Ltd comprises the sale of 70,42,200 shares (70.42 lakh shares approximately), which at the upper price band of ₹142 per share will translate into an OFS size of ₹100 crore. The entire OFS of 70,42,200 shares worth ₹100 crore will be sold by NextWave Communications Private Ltd, one of the promoter group companies. This will reduce the promoter holding to the extent. Thus, overall IPO of Exicom Tele-Systems Ltd will comprise of the issue and sale of 3,02,11,214 shares (302.11 lakh shares approximately) which at the upper end of the price band of ₹142 per share aggregates to total issue size of ₹429 crore. The IPO of Exicom Tele-Systems Ltd will be listed on the NSE and the BSE on the IPO mainboard. These details typically go through minor changes at the time of the final issue.

The IPO will be lead managed by Monarch Networth Capital Ltd, Unistone Capital Private Ltd, and Systematic Corporate Services Ltd. For the IPO of Exicom Tele-Systems Ltd; Link Intime India Private Ltd will be the registrar. If you have applied for the IPO, you can check your allotment status online.  You can either check your allotment status on the BSE website or the IPO registrar, Link Intime India Private Limited. Here are the steps.

Checking allotment status of Exicom Tele-Systems Ltd on BSE website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below. 

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow.
    • Under Issue Type – Select Equity Option
    • Under Issue Name – Select Exicom Tele-Systems Ltd   from the drop down box
    • Enter the Application Number exactly as in the acknowledgement slip
    • Enter the PAN (10-digit alphanumeric) number
    • Once this is done, you need to click on the Captcha to verify that you are not a robot
    • Finally click on the Search Button

In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Exicom Tele-Systems Ltd   allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits on or after 04th March 2024. The stock of Exicom Tele-Systems Ltd  will appear in the demat account (if allotted) under ISIN Number (INE777F01014).

Checking the allotment status on Link Intime India Private Limited (Registrar to the IPO)

Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://linkintime.co.in/IPO/public-issues.html

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Link Intime India Private Ltd by clicking on the Public Issues link displayed prominently on the home page. It all works the same.

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Exicom Tele-Systems Ltd   from the drop-down box. In the case of Exicom Tele-Systems Ltd , data access will be allowed late on 01st March 2024 or by middle of 02nd March 2024. 

• There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.

• If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.

• The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.

• The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.

• The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.

• Finally, click on the Search button

The IPO status with number of shares of Exicom Tele-Systems Ltd   allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records. The same can be verified with the demat account on 04th March 2024 or after that. The stock is expected to list on 05th March 2024. The only question now is, what determines chances of allocation in the IPO? It boils down to allocation quota and subscription levels.

Allocation quota for Exicom Tele-Systems Ltd  

The table below captures the quota allocated to various categories, in terms of the number of shares and also the percentage of the total share capital raised. For investors it is the quota for the retail and the HNI that really matters.

Category of Investors Allocation of shares under IPO
Anchor Allocation 1,25,38,800 shares (40.76%)
QIB Shares Offered 1,03,70,540 shares (33.71%)
NII (HNI) Shares Offered 47,11,800 shares (15.32%)
Retail Shares Offered 31,41,200 shares (10.21%)
Total Shares Offered 3,07,62,340 shares (100.00% )

Data Source: BSE

We now turn to how the various categories of investors in the IPO of Exicom Tele-Systems Ltd put in their bids.

Subscription levels for Exicom Tele-Systems Ltd  

The next thing to look at is the extent of subscription. The table below captures the extent of oversubscription for each of the categories as well as the overall subscription for Exicom Tele-Systems Ltd  .

Category Subscription Status
Qualified Institutional Buyers (QIB) 121.80 Times
S (HNI) ₹2 lakhs to ₹10 lakhs 144.28
B (HNI) Above ₹10 lakhs 157.69
Non Institutional Investors (NII) 153.22 Times
Retail Individuals 119.58 Times
Employees Not Applicable
Overall Subscription 129.54 times

Data Source: BSE

The response to the IPO of Exicom Tele-Systems Ltd  was very strong overall, and this was true across all the classes of investors. The QIB portion got subscribed 121.80 times while the HNI / NII portion got subscribed 153.22 times. The Retail portion was subscribed 119.58 times resulting in an overall subscription of 129.54 times for the IPO.

Next steps after the closure of the Exicom Tele-Systems Ltd

The issue opened for subscription on 27th February 2024 and closed for subscription on 29th February 2024 (both days inclusive). The basis of allotment will be finalized on 01st March 2024 and the refunds will be initiated on 04th March 2024. In addition, the demat credits are expected to also happen on 04th March 2024 and the stock will list on 05th March 2024 on the NSE and the BSE. Exicom Tele-Systems Ltd will test the appetite for such technology driven stocks in India. The credits to the demat account to the extent of shares allotted will happen by the close of 04th March 2024 under ISIN (INE777F01014).

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very high in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.

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Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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