Exicom Tele-Systems IPO: Key Details Investors Should Know Before Subscribing

The Exicom Tele-Systems IPO is set to open for subscription from February 27 to 29, offering investors a chance to participate in the growing electric vehicle (EV) charging sector.

Exicom Tele-Systems Limited, founded in 1994, is a pioneer in power systems and EV charging solutions. The company operates under two primary business divisions and has a strong presence in the market.

In the fiscal year 2023, Exicom Tele-Systems reported a decrease in revenue by 14.79%, leading to a 24.07% increase in profit after tax. The company’s IPO is expected to have a market capitalization of approximately ₹1715.71 crore.

The net proceeds from the IPO will be used for various purposes, including setting up production facilities, repayment of borrowings, working capital requirements, R&D investment, and other corporate objectives.

Investors looking to subscribe to the Exicom Tele-Systems IPO should be aware of key details such as the price band, set at ₹135 to ₹142 per equity share, with a targeted fundraising of ₹429 crore. The issue size includes both fresh shares and an Offer for Sale (OFS) component.

The IPO reservation structure allocates 75% for qualified institutional buyers (QIBs), 10% for retail investors, and 15% for non-institutional investors (NIIs). The minimum lot size for bidding is 100 shares, with a minimum investment requirement of ₹14,200 for retail investors.

Corporate promoter NextWave Communications Private Limited and individual promoter Anant Nahata are leading Exicom Tele-Systems’ IPO. The book running lead managers for the issue are Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, and Systematix Corporate Services Limited, with Link Intime India Private Ltd serving as the registrar.

Allotment for the IPO is slated for March 1, 2024, with a tentative listing date on both BSE and NSE set for March 5, 2024. Currently, the grey market premium for Exicom Tele-Systems shares is reported to be ₹142.