Exicom Tele Systems IPO: Exicom Tele Systems IPO opened for public subscription on Tuesday, February 27, 2024. The three-day subscription window of the EV chargers maker will close on Thursday, February 29, 2024. The public issue is available at a price band of Rs 135-142 per share.

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The maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares worth Rs 100 crore, at the upper end of the price band.

Here are important things to know about the Exicom Tele Systems IPO

Exicom Tele Systems IPO subscription status

According to provisional exchange data, Exicom Tele Systems IPO's share sale received bids for 2,36,07,64,300 shares against 1,82,23,540 shares on offer, translating into a subscription of 129.54 times on Thursday, the third day of the bidding process.

Category Subscription (No. of times the equity reserved)
Qualified institutional buyers  121.80
Non-institutional investors 153.22
Retail investors 119.59
Overall 129.54
Source: Exchange data

Exicom Tele Systems IPO allotment date, Exicom Tele Systems IPO listing date

The basis of the allotment of shares is scheduled for Friday, March 1, 2024, and the shares are likely to be credited to the demat account on Monday, March 4, 2024. The shares of Exicom Tele Systems are scheduled to debut on the bourses on Tuesday, March 5, 2024.

Exicom Tele Systems IPO: Book-running lead managers

Monarch Networth Capital, Systematix Corporate Services and Unistone Capital are the book-running lead managers to the issue.

Exicom Tele Systems IPO lot size, Exicom Tele Systems IPO price band

Investors can bid for a minimum of 100 equity shares and in multiples of 100 equity shares thereafter. The minimum amount required by a retail investor is Rs 14,200.

Exicom Tele Systems IPO: Fund Utilisation

Proceeds of the fresh issue will be used towards setting up production lines at the manufacturing facility in Telangana, investment in R&D as well as product development, and payment of debt to support working capital requirements and for general corporate purposes.

The company will use the net proceeds from the fresh issue to part-finance new assembly lines at the planned manufacturing facility in Telangana amounting to Rs 145.7 crore, Shiraz Khanna, the company's chief financial officer, said.

What does Exicom Tele-Systems do?

Exicom Tele-Systems is a power management solutions provider and operates under two business verticals -- EV (electrical vehicle) charger solutions business and power solutions business.

In the EV charger business, the company provides smart charging systems with innovative technology for residential, business, and public charging use in India and the other vertical, it designs, manufactures and services DC Power Systems to deliver overall energy management at telecommunications sites and enterprise environments in India and overseas.

(With PTI inputs)

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