Exicom Tele-Systems IPO Unveiled: Rs 329 Crore Fresh Issue, Alongside Rs 100 Crore Offer-for-Sale of 70.42 Lakh Shares.
Exicom Tele-Systems’ Rs 429-Crore IPO Fully Subscribed Within Hours of Opening on February 27, Retail Investors and HNIs Show Strong Interest.
During the initial offering of Exicom Tele-Systems, the segment designated for retail investors was oversubscribed threefold, while high net-worth individuals (HNIs) secured 1.17 times their allocated share quota.
The Gurugram-based EV charger manufacturer allocated 75 percent of its initial public offering to qualified institutional buyers, with 15 percent reserved for non-institutional investors and the remaining 10 percent for retail investors.
The IPO comprises a fresh issue of shares valued at Rs 329 crore and an offer-for-sale (OFS) of 70.42 lakh shares worth Rs 100 crore at the upper price band. Promoter NextWave Communication is selling shares in the OFS.
Currently, NextWave Communications, Satellite Finance, and Vinsan Brothers hold 76.55 percent, 4.64 percent, and 4.35 percent stakes in the company, respectively. HFCL holds a 7.74 percent stake, while the remaining shares are held by public shareholders, including Rare Enterprise.
Exicom Tele-Systems has outlined its allocation of funds from the IPO proceeds, with Rs 145.77 crore earmarked for establishing assembly lines at a facility in Telangana. Additionally, Rs 69 crore will be allocated as working capital, while Rs 40 crore is designated for investment in research and development (R&D) and product development.
Furthermore, a portion of Rs 50.3 crore will be utilized for debt repayment, with the remaining funds allocated for general corporate purposes. This strategic allocation reflects the company’s focus on enhancing production capabilities, fostering innovation, and maintaining financial stability.
Prior to the IPO, Exicom Tele-Systems secured Rs 178 crore from anchor investors. Notable participants in this pre-IPO funding round included esteemed investors such as Maybank Asiapac Ex-Japan Equity I Fund, Nepean Long Term Opportunities Fund, Abakkus Diversified Alpha Fund, Quant Mutual Fund, JM Financial Mutual Fund, Aditya Birla Sun Life Trustee, and SBI General Insurance Company. Their participation underscores strong investor confidence in Exicom Tele-Systems and its growth prospects ahead of its public offering.
Exicom Tele-Systems functions as a leading provider of power management solutions, operating through two core business verticals. Firstly, its EV chargers business specializes in offering smart charging systems tailored for residential, commercial, and public charging applications within the electric vehicle sector.
Secondly, the company operates within the critical power solutions domain, where it excels in designing, manufacturing, and servicing critical digital infrastructure technology. This technology is specifically engineered to facilitate comprehensive energy management at telecommunications sites and enterprise environments, catering to both domestic and international markets. Through these verticals, Exicom Tele-Systems is positioned as a key player in advancing energy efficiency and infrastructure reliability across various sectors.