Exicom Tele-Systems is set to Launch IPO on February 27, Targeting INR 329 Crore Fundraise
Exicom Tele-Systems Ltd, a prominent name in the Electric Vehicle (EV) charging and power management solutions sector, is poised to debut on the stock market with its Initial Public Offering (IPO) scheduled for February 27. This milestone event will draw to a close on February 29, with a special session for anchor investors set on February 26, as detailed in the company’s Red Herring Prospectus (RHP).
The company’s entry into the public market features a dual structure comprising a fresh issue of equity shares aiming to raise INR 329 crore and an Offer For Sale (OFS) of up to 70.42 lakh equity shares by the promoter, NextWave Communications.
Currently, NextWave Communications boasts a significant 76.55% ownership in Exicom, while HFCL, another entity within the promoter group, holds a 7.74% stake, culminating in a total promoter ownership of 93.28%.
The funds garnered from the IPO are earmarked for several strategic initiatives. These include the expansion of production capabilities at the Telangana manufacturing site, bolstering investments in research and development (R&D) and product innovation, repaying debts, catering to working capital needs, and other general corporate purposes.
Exicom Tele-Systems has carved a niche for itself in the EV charging solutions and power solutions sectors. In the realm of EV charging, it offers an array of smart charging solutions that cater to residential, commercial, and public needs across India, leveraging cutting-edge technology to promote sustainability and efficiency.
On the other hand, its power solutions division is renowned for designing, manufacturing, and servicing DC Power Systems that ensure optimal energy management for telecommunication sites and enterprise settings, both domestically and internationally.
The company’s journey to the IPO is backed by an impressive track record of innovation and growth in the clean energy sector. Prior achievements include pioneering advancements in charger technology, establishing a robust manufacturing presence, and contributing significantly to the adoption of green energy solutions across various segments.
The IPO is managed by a trio of esteemed book-running lead managers: Monarch Networth Capital, Systematix Corporate Services, and Unistone Capital. With plans for the equity shares to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), Exicom Tele-Systems is set to embark on a new chapter in its mission to drive sustainable energy solutions forward, marking a significant leap in its commitment to contributing to a greener future.