Exicom Tele-Systems is offering an Initial Public Offering (IPO) worth Rs 429.00 crores, consisting of a fresh issue of 2.32 crore shares valued at Rs 329.00 crores and an offer for sale of 0.7 crore shares worth Rs 100.00 crores.
The subscription for Exicom Tele-Systems IPO opens on February 27, 2024, and closes on February 29, 2024. The allotment is expected to be finalized on Friday, March 1, 2024. The IPO is set to list on BSE and NSE with a tentative listing date of Tuesday, March 5, 2024.
The price band for the Exicom Tele-Systems IPO is between ₹135 to ₹142 per share, with a minimum lot size of 100 shares. Retail investors need a minimum investment of ₹14,200. For sNII, the minimum lot size is 15 lots (1,500 shares), requiring an investment of ₹213,000, and for bNII, it is 71 lots (7,100 shares), amounting to ₹1,008,200.
Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, and Systematix Corporate Services Limited are the book running lead managers, while Link Intime India Private Ltd is the registrar for the IPO.
For more detailed information, refer to the Exicom Tele-Systems IPO RHP.
Exicom Tele-Systems IPO Details
| Attribute | Details |
|---|---|
| Issue Type | Book Built Issue IPO |
| IPO Date | February 27, 2024 to February 29, 2024 |
| Price Band | ₹135 to ₹142 per share |
| Face Value | ₹10 per share |
| Lot Size | 100 Shares |
| Total Issue Size | 30,211,214 shares (aggregating up to ₹429.00 Cr) |
| Fresh Issue | 23,169,014 shares (aggregating up to ₹329.00 Cr) |
| Offer for Sale | 7,042,200 shares of ₹10 (aggregating up to ₹100.00 Cr) |
| Listing At | BSE, NSE |
| Shareholding post issue | 97,655,501 |
| Share holding post issue | 120,824,515 |
Exicom Tele-Systems IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | Tuesday, February 27, 2024 |
| IPO Close Date | Thursday, February 29, 2024 |
| Basis of Allotment | Friday, March 1, 2024 |
| Initiation of Refunds | Monday, March 4, 2024 |
| Credit of Shares to Demat | Monday, March 4, 2024 |
| Listing Date | Tuesday, March 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 29, 2024 |
Exicom Tele-Systems IPO Lot Size
Investors can bid for a minimum of 100 shares and then in multiples of 100 shares thereafter. The table below shows the minimum and maximum investment amounts for retail investors and HNIs, both in terms of shares and the corresponding monetary value.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹14,200 |
| Retail (Max) | 14 | 1400 | ₹198,800 |
| S-HNI (Min) | 15 | 1500 | ₹213,000 |
| S-HNI (Max) | 70 | 7000 | ₹994,000 |
| B-HNI (Min) | 71 | 7100 | ₹1,008,200 |
Exicom Tele-Systems Limited Details
Founded in 1994, Exicom Tele-Systems Limited specializes in power systems, electric vehicle (EV) charging, and related solutions, operating under two main business verticals.
Under its Power Systems division, Exicom offers uninterrupted power solutions for digital communication networks.
In the EV Charging Solutions segment, Exicom has installed over 61,000 AC and DC chargers in India and Southeast Asia. Their EV charging solutions are designed to withstand harsh environmental and electrical conditions.
As of March 31, 2023, Exicom was one of the first companies to enter India’s EV charger manufacturing segment. The company provides both slow charging solutions (primarily AC chargers for residential use) and fast charging solutions (DC chargers for business and public charging networks in cities and highways). Its customer base includes automotive OEMs (for passenger cars and EV buses), charge point operators (CPOs), and fleet aggregators.
By September 30, 2023, Exicom had installed more than 61,000 EV chargers across 400 locations in India. As of the same date, the company had deployed 470,810 Li-ion Batteries for application in the telecommunications sector, with a storage capacity exceeding 2.10 GWH.
Exicom’s manufacturing facility is compliant with ISO 14001:2015, ISO 45001:2018, and ISO 9001:2015 standards.
As of September 2023, Exicom has supplied its EV Chargers to over 70 customers, including 15 automotive OEMs, 32 national and regional CPOs, and four fleet aggregators.
The company employs 1,190 individuals in India as of September 30, 2023, with 443 on contractual terms and 732 technically qualified employees, including 438 with diplomas and 294 with engineering degrees. Additionally, Exicom has 50 employees at its subsidiaries.
Exicom Tele-Systems Limited Financials
Exicom Tele-Systems Limited experienced a 14.79% decrease in revenue but saw a 24.07% increase in profit after tax (PAT) from the financial year ending on March 31, 2022, to March 31, 2023.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 629.41 | 705.09 | 602.99 | 678.46 |
| Revenue | 467.21 | 723.40 | 848.96 | 524.36 |
| Profit After Tax | 27.46 | 6.37 | 5.14 | 3.45 |
| Net Worth | 311.40 | 232.00 | 221.57 | 213.44 |
| Reserves and Surplus | 204.95 | 213.61 | 207.39 | 201.55 |
| Total Borrowing | 72.84 | 117.92 | 107.67 | 101.76 |
| Amount in ₹ Crore |
The objective of the Issue
The company intends to utilize the net proceeds from the IPO for the following purposes:
- Partial financing for setting up production/assembly lines at the planned manufacturing facility in Telangana.
- Repayment or prepayment of certain borrowings of the company.
- Partial funding of incremental working capital requirements.
- Investment in research and development and product development.
- General corporate purposes.
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