Exicom Tele-Systems Ltd is gearing up for its Initial Public Offering (IPO) scheduled to debut on February 27, marking a significant milestone for the EV chargers manufacturer. According to the Red Herring Prospectus (RHP), the IPO will kick off on February 27 and conclude on February 29. Prior to this, bidding for anchor investors will open for a day on February 26.
The public offering of Exicom Tele-Systems consists of a fresh issue of equity shares totalling up to Rs 329 crore, alongside an Offer For Sale (OFS) component of up to 70.42 lakh equity shares by promoter NextWave Communications.
NextWave Communications currently holds a 76.55 per cent stake in Exicom Tele-Systems, while HFCL, also part of the promoter group, owns a 7.74 per cent stake in Exicom Tele-Systems. Overall, promoters maintain a 93.28 per cent stake in the firm.
Proceeds from the fresh issue will be allocated to various avenues, including setting up production lines at the manufacturing facility in Telangana, investment in Research and Development (R&D) and product development, debt repayment, working capital support, and general corporate purposes, as per the Red Herring Prospectus.
Exicom Tele-Systems operates in two main business verticals, EV charger solutions and power solutions. In the EV charger business, the company offers smart charging systems equipped with innovative technology for residential, commercial, and public charging use across India. In its power solutions business, Exicom Tele-Systems designs, manufactures, and services DC Power Systems, facilitating comprehensive energy management at telecommunications sites and enterprise environments both domestically and internationally.
The IPO is being managed by book-running lead managers Monarch Networth Capital, Systematix Corporate Services, and Unistone Capital. The equity shares are intended to be listed on both the BSE and NSE.
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