Exicom Tele-Systems IPO: Price Band ₹135-142, Subscription Date and Lot Size Details Revealed

Exicom Tele-Systems has set a price band in the range of ₹135-142 per equity share at a face value of ₹10 each for its initial public offer (IPO). The public issue will open for subscription between February 27 and February 29. Ahead of the IPO subscription, the company will conduct an anchor round on February 26.

The EV charger maker intends to raise ₹429 crore through the IPO, which consists of a mix of fresh issue of shares and offer for sale (OFS) component by promoter NextWave Communications. The promoter currently holds 71.45% stake in the company. Proceeds from the IPO will be used by the company to set up a manufacturing facility in Telangana. The money raised may also be used for repayment of existing borrowings, meeting working capital requirements and general corporate purposes, according to the company.

Exicom Tele-Systems IPO details

Exicom Tele-Systems IPO offer size comprises a fresh issue of 2.32 crore shares worth ₹329 crore at the upper price band and an offer for sale of 70 lakh shares aggregating to ₹100 crore. Of the total equity shares on offer, not less than 75% will be available for allocation on a proportionate basis to qualified institutional buyers (QIBs), including anchor buyers and mutual funds. Of the remaining, 15% of the net issue will be reserved for non-institutional investors (NIIs) and 10% will be allocated to retail individual investors.

Retail investors can apply for the Exicom Tele-Systems IPO for minimum lot size of 100 shares, aggregating to ₹14,200 at the upper price band, and in multiples thereof. Following the subscription process, the Exicom Tele-Systems IPO share allotment is likely to be finalised on March 1. Credit of shares into the demat account of the successful bidders is expected to begin on March 4 along with refunds for the non-allottees.

Exicom Tele-Systems shares are scheduled to be listed on BSE and NSE on March 5. The company has appointed Link Intime India Private Ltd as the registrar for the public issue while Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd and Systematix Corporate Services Limited will serve as the book-running lead managers. Exicom Tele-Systems IPO shares are likely to be listed on the BSE and NSE.

Exicom Tele-Systems promoters Next Wave Communication Private Limited along with the other promoter group presently hold 91,101,408 equity shares aggregating to 98.60% stake in the company.

About the company

Exicom Tele-Systems' business operation is primarily divided into two verticals. The first one is the EV charger business where the company offers smart charging systems for EVs in residential, business and public spaces in India.

It is one of the leading players in the EV charger segment in India. At the end of FY 2023, the company had a market share of 60% and 25% in the residential and public charging segments, respectively. It has deployed over 35,000 EV chargers across 400 locations in India. Through its second vertical, the company provides critical power solutions that cover the design, manufacturing and servicing of critical digital infrastructure technology to offer overall energy management at telecommunications sites and enterprise environments in India and overseas.

The total revenue for the company for the six-month period ended September 30, 2023, and the Financial Year ended March 31, 2023, stood at ₹467 crore and ₹ 723 crore, respectively. Meanwhile, the net profit for the company stands at ₹27.4 crore for the six month ended September 30,2023 period.

Exicom Tele-Systems clientele includes companies like Reliance BP Mobility Limited (JioBP), Lithium Urban Technologies, Mahindra & Mahindra, MG Motors and JBM and Fortum Charge & Drive India.