Exicom Tele-Systems IPO: The preliminary public providing of EV chargers maker Exicom Tele-Systems Ltd goes to be launched on February 27. The Rs 400-crore IPO will stay open until February 29 and the bidding for anchor traders will likely be opened for a day on February 26.
The maiden public concern contains a recent concern of fairness shares aggregating as much as Rs 329 crore and an Offer For Sale (OFS) part of as much as 70.42 lakh fairness shares by promoter NextWave Communications, based on the Red Herring Prospectus (RHP).
Currently, NextWave Communications holds a 76.55 per cent stake within the firm, and HFCL, a part of the promoter group, owns a 7.74 per cent stake within the agency. Overall, promoters maintain a 93.28 per cent stake in Exicom Tele-Systems.
Proceeds of the recent concern will likely be used in direction of organising manufacturing strains on the manufacturing facility in Telangana, funding in R&D in addition to product improvement, and cost of debt, to assist working capital necessities and for basic company functions.
Exicom-Tele Systems is an influence administration options supplier and operates below two enterprise verticals — EV (Electrical Vehicle) charger options enterprise and energy options enterprise.
In the EV charger enterprise, the corporate offers good charging techniques with modern expertise for residential, enterprise, and public charging use in India, and within the different vertical it designs, manufactures, and companies DC Power Systems to ship general power administration at telecommunications websites and enterprise environments in India and abroad.
Monarch Networth Capital, Systematix Corporate Services, and Unistone Capital are the guide-operating lead managers to the problem. The fairness shares are proposed to be listed on the BSE and NSE.
