Exicom Tele-Systems Ltd. (ETSL) has introduced the Initial public providing (IPO) of its fairness shares on Tuesday, twenty seventh February, 2024. The price band has been fixed at ⹠135 to ⹠142 per fairness share. Bids might be made for no less than 100 fairness shares and in multiples of 100 shares thereafter.
The complete provide dimension includes of contemporary concern of fairness shares aggregating as much as â¹329 crore and Offer for Sale as much as 7,042,200 fairness shares. The complete dimension of the IPO at the higher price band is estimated at â¹429 crore.
The IPO will close on Thursday, twenty ninth February, 2024.
The firm proposes to utilise internet proceeds from contemporary concern in the direction of half financing the price in the direction of organising of manufacturing/meeting traces at a deliberate manufacturing facility in Telangana amounting to â¹145.72 crore; Repayment/pre-payment, partly or full, of sure borrowings amounting to â¹50.29 crore, half funding incremental working capital necessities amounting to â¹69 crore; funding in R&D and product growth amounting to â¹40 crore; and the steadiness quantity for basic company functions.
The Offer for Sale includes of as much as 7,042,200 fairness shares by NextWave Communications Private Ltd., which is the Promoter Selling Shareholder.
