Exicom Tele-Systems Limited’s initial public offering (IPO) is a book-built issue targeting Rs 429 crore. The subscription will commence on February 27, with the anchor book opening on February 26. The IPO includes a fresh issue of 2.32 crore shares valued at Rs 329 crore and an offer-for-sale of 70 lakh shares worth Rs 100 crore.
Here are the key details:
1) IPO Dates:
The subscription window will be open from February 27 to February 29.
2) Price Band:
The price band for the issue is set at Rs 135-142 per share.
3) Offer Details:
The company aims to raise Rs 429 crore through the IPO. Major stakeholders include NextWave Communications (76.55%), Satellite Finance (4.64%), Vinsan Brothers (4.35%), and HFCL (7.74%).
4) Objectives of the Issue:
Exicom Tele-Systems plans to utilize the IPO proceeds for establishing a manufacturing facility in Telangana, debt repayment, investment in R&D, and meeting working capital needs.
5) Lot Size:
Investors can bid for a minimum of 100 equity shares and in multiples thereof, translating to a minimum investment of Rs 13,500 (at the lower price band) and Rs 14,200 (at the upper end).
6) Company Profile:
Exicom Tele-Systems operates in power management solutions, focusing on EV chargers and critical power solutions for digital infrastructure technology.
7) Financials:
In FY22-23, the company saw a 16% decline in revenue but a 24% increase in profit after tax. There was a notable shift in revenue distribution between critical power solutions and EV charger business.
8) Lead Managers:
Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, and Systematix Corporate Services Limited are the book-running lead managers, with Link Intime India Private Ltd serving as the registrar.
9) Key Risks:
Exicom is exposed to risks associated with global suppliers, third-party operations, and transfer pricing regulations, which could impact its operations and financials.
10) Listing Date:
The IPO is expected to list on both BSE and NSE on Tuesday, March 5, 2024.
