Exicom Tele-Systems Ltd, an EV charger manufacturer, has revealed a price band of Rs 135-142 per share for its upcoming Initial Public Offering (IPO) to raise Rs 429 crore. The IPO will be open for public subscription from February 27 to 29, with a one-day bidding window for anchor investors on February 26.
Let’s have a look at the key details of the IPO by Exicom Tele-Systems Ltd:
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Details of the IPO:
- The IPO includes a fresh issue of equity shares amounting to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares valued at Rs 100 crore at the upper end of the price band. The OFS will be by promoter NextWave Communications.
- Promoters currently hold a 93.28% stake in Exicom Tele-Systems, and through this offering, they plan to dilute 23% of their shareholding. Post-issue, the promoters’ ownership is expected to decrease from 92% to 69%.
- The price-to-earnings ratio at the floor price is 39.94 times, and at the cap price, it is 42.01 times based on the basic and diluted EPS of continuing operations.
Utilization of Proceeds:
The funds generated from the fresh issue will be allocated for various purposes, including establishing production lines at the manufacturing facility in Telangana, investment in research and development, product development, and payment of debt to support working capital requirements and general corporate purposes.
Utilizing Fresh Issue Proceeds for Strategic Growth:
Exicom Tele-Systems Ltd’s IPO offers investors the opportunity to bid for a minimum of 100 equity shares, with subsequent bids in multiples of 100 shares. The net proceeds from the fresh issue will play a pivotal role in advancing the company’s strategic initiatives. Here, a significant portion, amounting to Rs 145.7 crore, will be allocated for the establishment of new assembly lines at the planned manufacturing facility in Telangana. This strategic move reflects the company’s commitment to enhancing production capabilities, thereby strengthening its competitive position in the market.
About Exicom Tele-Systems Ltd:
Exicom Tele-Systems, established in 1994, has become a formidable force with a significant presence in two crucial sectors: electric vehicle supply equipment solutions (EV Chargers) and critical power. As a vertically integrated company, Exicom has its expertise over the years, specializing in the design, development, and manufacturing of forward-looking products catering to the evolving needs of today and the future.
Exicom presents a diverse portfolio encompassing DC power conversion systems and Li-ion-based energy storage solutions. These solutions serve as a reliable source of backup power during grid interruptions, contributing to a resilient energy ecosystem. The company’s extensive suite of EV Charging products spans slow charging for residential applications and fast charging solutions strategically deployed across public charging networks in urban areas and along highways.
Expertise and Reach:
With over 25 years of profound industry experience in power electronics, Exicom Tele-Systems has established itself as a seasoned player in the domain. The company’s reach extends to more than 400 cities, where it has provided comprehensive installation and maintenance services. Leveraging its extensive expertise, Exicom has successfully deployed over 70,000 AC and DC chargers, strategically positioned across India and Southeast Asia. The company manufactures all its products across three manufacturing facilities, Solan Facility, Gurugram Facility I, and Gurugram Facility II.
The company has an integrated ChargeX platform. ChargeX is a cloud-based charger management platform for anyone who wants to deploy, manage, and grow their EV charging network. It continuously learns and evolves to fulfill a range of industries’ charging needs.
