Exicom Tele-Systems IPO to open on February 27; Price band fixed at ₹135 to ₹142 per share

19 Mar 2024 , 10:34 AM

Exicom Tele-Systems Limited is set to launch its Initial Public Offering (IPO) as a book built issue valued at ₹429.00 Crores. The IPO comprises a combination of a fresh issue of 2.32 Crore shares totaling ₹329.00 Crores and an offer for sale of 0.7 Crore shares totaling ₹100.00 Crores. 

• IPO subscription period: February 27, 2024, to February 29, 2024.
• Allotment expected by Friday, March 1, 2024.
• Listing date: Tuesday, March 5, 2024, on both BSE and NSE.
• Price band: ₹135 to ₹142 per share.
• Minimum lot size: 100 shares, requiring a minimum investment of ₹14,200 for retail investors.
• Allocation of shares: QIBs offered up to 75% of the net issue, retail investors not exceeding 10%, NII (HNI) investors offered no more than 15%.
• Utilization of net proceeds includes:
  • Part-financing the cost of setting up production/assembly lines at planned manufacturing facility in Telangana.
  • Repayment/pre-payment of certain borrowings.
  • Part-funding incremental working capital requirements.
  • Investment in R&D and product development.
  • General corporate purposes.

Established in 1994, Exicom Tele-Systems Limited specializes in power systems, electric vehicle (EV) charging, and related solutions. The company’s manufacturing facility adheres to ISO 14001:2015, ISO 45001:2018, and ISO 9001:2015 standards.

As of September 2023, the company has supplied EV chargers to over 70 customers, including 15 automotive OEMs, 32 national and regional CPOs, and four fleet aggregators. Employing 1,190 individuals in India as of September 30, 2023, with 443 contractual employees and 732 technically qualified employees, including 438 with diplomas and 294 with engineering degrees. Additionally, the company has 50 employees at its subsidiaries.

Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, and Systematix Corporate Services Limited serve as the book running lead managers for the Exicom Tele-Systems IPO, with Link Intime India Private Ltd acting as the registrar for the issue.