Exicom Tele-Systems Limited

About  Exicom Tele-Systems Limited

Incorporated in 1994, Exicom Tele-Systems Limited is a power management solutions provider headquartered in India. It designs, manufactures and services DC power systems and Li-ion (Lithium-ion) based energy storage solutions for telecommunication sites. Since FY19, it also provides smart EV charging systems for residential, business, and public use in India. As of 31 March 2023, the company holds a market share of 60% in the EV chargers manufacturing segment and 16% in the DC power systems market in India. 

Apart from India, the company sales its products across 15 countries in Southeast Asia and Africa. As of 30 September 2023, it has deployed 4.7 lakh Li-ion batteries for application in the telecommunications sector. It has also deployed over 61,000 EV chargers across 400 locations in India. 

It has established five subsidiaries in the overseas market, i.e, Exicom Tele-Systems (Singapore) in Singapore, Horizon Tele-System SDN BHD in Malaysia, Horizon Power Solutions DMCC and Horizon Power Solution L.L.C-FZ in U.A.E., and Exicom Power Solutions B.V in the Netherlands.

Its manufacturing facilities are located at Solan in Himachal Pradesh and Gurugram in Haryana. It has a total employee count of 1,190 including 732 technically qualified employees and 50 employees at its overseas subsidiaries as of Q2 FY24. It also has an R&D team of 145 employees housed at its R&D centres in Gurugram and Bengaluru. 

The company saw a CAGR rise of 11% in its revenue from operations between FY21 and FY23, and 110% between Q2 FY23 and Q2 FY24. Moreover, the Indian telecommunications power systems market is expected to grow at a CAGR of 8% between FY23 and FY28. The EV charging market for public chargers is also projected to grow at a CAGR of 44% between 2022 and 2027. All of this could benefit the company. 

And now, Exicom Tele-Systems Limited is coming out with its initial public offer (IPO). The IPO will be an offer for sale as well as a fresh issue. The money raised from the fresh issue will be utilised to partly finance the setting up of production lines at its planned manufacturing facility in Telangana. IPO proceeds will also be used to partly fund the working capital requirement, repay borrowings, invest in R&D, and for general corporate purposes. Its shares will be listed on the NSE and the BSE.

Here are key details about the Exicom Tele-Systems Limited IPO:

Financial snapshot

Here’s a quick look at Exicom Tele-Systems Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)

Strengths and opportunities

1. Established player in the Indian EV charger market with a client base, which includes Reliance BP Mobility, Fortum Charge & Drive India, BluSmart Mobility, Lithium Urban Technologies, Mahindra & Mahindra, MG Motors, and JBM. 
2. Diversified product portfolio spanning various performance characteristics, environment ratings, physical sizes and power ratings for its DC Power Systems, and multiple use cases such as home charging, bus charging, fleet charging and public charging for its EV chargers. 
3. Vertically integrated operations consisting of design, engineering, prototype testing, supply chain, R&D activities, as well as sales and marketing initiatives. 
4. Provides multiple services to customers, including installation and commissioning, services under annual maintenance contracts, spare parts support and after-sales services.
5. Significant product development and focussed engineering capabilities. 
6. Established a customer base of 450 companies including BSNL, Jio Infocom, Maxis Telecom, American Tower Corp., Eastcastle Infrastructure DRC S.R.L.U. and Indus Tower.

Risks and threats

1. The growth of its EV charger business depends on the EV market in India which is still at its nascent stage. 
2. The company is significantly dependent on its top five customers as it contributed to over 50% of its revenue from operations as of Q2 FY24. 
3. Inability to collect trade receivables amounting to ₹201 crore as of Q2 FY24 might lead to a reduction in profits and affect its cash flows.
4. Dependent on imports for raw materials such as Li-ion cells and battery packs, semiconductors, rectifier modules, etc and exposed to the risk of scarcity and unavailability. 
5. It does not have long-term agreements with its customers, and if customers choose not to renew their agreements, it will impact its business.
6. Exposed to risks associated with its international sales and operations as overseas customers accounted for ₹42 crore of its total revenue from operations in Q2 FY24. 
7. Has experienced negative cash flows in the last three years due to purchase of plant and machinery, product development and investment in fixed deposits as well as interest paid towards interest costs on financial liabilities and working capital loans. 
8. Operates in a highly regulated industry and if the various laws, regulations, and standards change often, it will affect the company’s business.

Exicom Tele-Systems Limited IPO details

|Exicom Tele-Systems Limited IPO date

According to the offer document filed by the company with the SEBI, the Exicom Tele-Systems IPO’s opening date – in other words, the Exicom Tele-Systems IPO launch date – will be 27th February 2024. The Exicom Tele-Systems IPO closing date is 29th February 2024. After this, investors will be updated about the allotment status on 1st March 2024.

Investors, who have been allotted shares, can expect them to be credited to their demat account on 4th March 2024. The Exicom Tele-Systems IPO listing date is 5th March 2024. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE. 

|Exicom Tele-Systems Limited IPO Price Band

The IPO is an offer for sale as well as a fresh issue. The Exicom Tele-Systems IPO price band has been set between ₹135 and ₹142 per share. Interested investors can choose a price within this band to apply for the IPO. 

The Exicom Tele-Systems IPO listing price will be determined on 5th March 2024. The listing price is the price at which a company’s shares debut on the stock exchanges.

|Exicom Tele-Systems Limited IPO Lot size

The Exicom Tele-Systems IPO details have been declared. The Exicom Tele-Systems IPO lot size is set at 100 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Exicom Tele-Systems IPO issue size is approx ₹429 crore. 

How to pre-apply for the Exicom Tele-Systems Limited IPO?

You can pre-apply for the Exicom Tele-Systems Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. 

Follow these steps to pre-apply for the IPO: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘Exicom Tele-Systems Limited IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Pre-Apply’
7. Accept the mandate on your UPI app

How to apply for the Exicom Tele-Systems Limited IPO?

If you are interested in this investment opportunity but unsure how to apply for the Exicom Tele-Systems Limited IPO, here we are listing out the steps for you. 

When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Exicom Tele-Systems Limited IPO on Upstox: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘Exicom Tele-Systems Limited IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Apply’
7. Accept the mandate on your UPI app

How to check the Exicom Tele-Systems LimitedIPO allotment status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. 

Here’s a step-by-step guide on how to check the Exicom Tele-Systems Limited IPO allotment status:

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover page, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, you will find the ‘View all’ option
5. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
6. In the ‘IPO’ tab, click on ‘My applications’ 
7. In ‘My applications’, under the History section, your Exicom Tele-Systems Limited IPO allotment status will be mentioned

Check Allotment Status

Open a demat account with Upstox to apply for the Exicom Tele-Systems Limited IPO

To apply for the Exicom Tele-Systems Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.

Here is a step-by-step guide on how to open a demat account with Upstox:

1. Click here to visit the demat account opening page on the Upstox website. 
2. Enter your phone number and other essential details to begin opening a demat account.
3. Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed. 
4. Complete the e-verification using the OTP sent to your registered mobile number. 

This is all it takes to open a demat account with Upstox. Easy and quick, right? 

Open Demat Account

Upstox – trading app to apply for the Exicom Tele-Systems Limited IPO

Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.

You can apply for the Exicom Tele-Systems Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.

In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.