Exicom Tele-Systems: On its first day of opening on Tuesday, the initial public offering (IPO) of Exicom Tele-Systems Ltd. saw overwhelming interest from retail investors and non-institutional buyers (HNIs), with subscriptions exceeding 10 times the offering. The IPO, priced at ₹135–142 per share, has garnered significant attention.
According to NSE data, the ₹429-crore IPO received bids for 18,23,99,200 shares, significantly surpassing the 1,82,23,540 shares (net of the anchor portion) on offer. This translated into a subscription rate of 10.01 times, highlighting the strong demand for the offering.
The company’s allotment strategy designates a minimum of 75% of the issue to qualified institutional buyers (QIBs) while capping retail investor participation at no more than 10% and non-institutional investors (NIIs) at no more than 15%.
The retail investor quota was oversubscribed by 27.11 times, the HNI quota by 19.03 times, and the portion allocated to qualified institutional buyers was subscribed at 73 percent.
The IPO saw full subscription within hours of the bidding process commencing.
The IPO consists of a fresh issue of equity shares totaling ₹329 crore and an offer-for-sale (OFS) component comprising up to 70.42 lakh equity shares valued at ₹100 crore by promoter NextWave Communications. NextWave Communications holds a 76.55% stake in the company, while HFCL, part of the promoter group, owns a 7.74% shareholding.
Exicom Tele-Systems Ltd. has secured ₹178 crore from anchor investors.
The funds from the fresh issue will be allocated to various purposes, including establishing production lines at the manufacturing facility in Telangana, investing in research and development, and product development. Additionally, a portion will be directed towards debt repayment to support working capital needs and for general corporate purposes.
Exicom Tele-Systems functions as a provider of power management solutions, operating across two distinct business verticals: the electric vehicle (EV) charger solutions business and the power solutions business.
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Within the EV charger business, Exicom Tele-Systems offers smart charging systems featuring innovative technology tailored for residential, commercial, and public charging applications in India. In its other vertical, the company specializes in the design, manufacturing, and servicing of DC power systems. These systems are integral to ensuring comprehensive energy management at telecommunications sites and in enterprise environments, both domestically in India and overseas.
Unistone Capital, Monarch Networth Capital, and Systematix Corporate Services are the offer managers.
