Exicom Tele Systems IPO: GMP signals robust listing gain for share allottees
Exicom Tele Systems IPO: After the finalization of share allotment, allottees are eagerly waiting for the Exicom Tele Systems IPO listing date, which is most likely on 5th March 2024 i.e. tomorrow. In the wake of the T+3 listing rule becoming mandatory from 1st December 2024, the public issue is expected to hit the Indian stock market tomorrow but an official confirmation from the Indian stock market exchanges is still awaited. Meanwhile, ahead of the announcement of the Exicom Tele Systems IPO listing date, the grey market has gone highly bullish on the book build issue. 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 observers said that Exicom Tele Systems IPO GMP (grey market premium) today is ₹156, which means Exicom Tele Systems share price has remained almost steady in the grey market for the last three days. They said that the strong response by the primary market investors and strong positive sentiments on Dalal Street could be the possible reasons for the bullish sentiments in the grey market on this book build issue. They said that key benchmark indices touched a new high on Friday and they further extended their rally in the special trading session on Saturday.
Exicom Tele Systems IPO listing price prediction
Market observers went on to add that Exicom Tele Systems IPO GMP today is ₹156, which means Exicom Tele Systems IPO listing price would be around ₹298 ( ₹142 + ₹156), which is around 110 percent higher than the Exicom Tele Systems IPO price band of ₹135 to ₹142 per equity share. This means the grey market is signaling multibagger return for the lucky allottees on the listing date.
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However, stock market experts maintained that GMP should be taken seriously as it has no connection with the balance sheet of the company. They went on to add that the grey market is non-regulated and it involves even those who have a high stake in the public issue. They advised Exicom Tele Systems IPO allottees to stick with the conviction they developed after scanning the balance sheet of the book build issue.
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Published: 04 Mar 2024, 03:17 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.