Exicom Tele-Systems Charges Up IPO for EV Revolution

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 comprises a fresh issue of equity shares worth Rs 329 crore and an Offer For Sale (OFS) of up to 70.42 lakh equity shares valued at Rs 100 crore, with the OFS conducted by promoter NextWave Communications.

Details of the IPO

Promoters currently hold a 93.28% stake in Exicom Tele-Systems, and through this offering, they plan to dilute 23% of their shareholding.

Details of the IPO

Fresh issue funds for Telangana production lines, R&D, product development, debt repayment, working capital, and general corporate purposes.

Utilization of Proceeds

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.

Issue Proceeds for Strategic Growth

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.

Issue Proceeds for Strategic Growth

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.

About Exicom Tele-Systems Ltd