IPO

Exicom Tele-Systems Limited IPO

Mainboard

Heavy Electrical Equipment

Listed On: Mar 5, 2024 at ₹ 265.0(NSE)

₹ 14200 /100 Shares

Check Allotment

27 Feb, 2024

Open Date

29 Feb, 2024

Close Date

01 Mar, 2024

Allotment Date

05 Mar, 2024

Listing Date
Price Summary

Last Closing

111.35 (-21.58%)

52 Week High

271.11

52 Week Low

101.41

Last Update

12-Dec-2025 3:30 PM
Exicom Tele-Systems Limited IPO Issue Details
  • Issue Price ₹135-142 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 3,02,11,214 shares(aggregating up to ₹429 crore)
  • Fresh Share 2,31,69,014 shares(aggregating up to ₹329 crore)
  • Offer For Sale 70,42,200 shares(aggregating up to ₹100 crore)
  • Listing at BSE, NSE
  • List Price 265.0(NSE)
  • Listing Date 2024-03-05
  • Lead Manager Monarch Networth Capital Ltd
    Unistone Capital Pvt Ltd
    Systematix Corporate Services Limited
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 100 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 100 ₹14,200
Retail(max) 14 1,400 ₹1,98,800
SHNI(min) 15 1,500 ₹2,13,000
SHNI(max) 70 7,000 ₹9,94,000
BHNI(min) 71 7,100 ₹10,08,200
Exicom Tele-Systems Limited IPO Reservation

Exicom Tele-Systems Limited IPO offers total 30,211,200 shares. Out of which 10,119,700 (33.5%) allocated to QIB, 4,531,600 (15%) allocated to NII,3,021,100 (10%) allocated to RII, NA (NA%) allocated to employees and 12,538,800 (41.5%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 12,538,800 (41.5%)
QIB Shares Offered 10,119,700 (33.5%)
NII (HNI) Shares Offered 4,531,600 (15%)
bNII > ₹10L 3,021,100 (10%)
sNII < ₹10L 1,510,500 (5%)
Retail Shares Offered 3,021,100 (10%)
Total Shares Offered 30,211,200 (100%)
Exicom Tele-Systems Limited IPO Documents
DRHP
RHP
ANCHOR
Exicom Tele-Systems Limited IPO Details


Exicom Tele-Systems Limited IPO is a book-built issue of ₹429 crores, The total issue size is ₹429 crores. The IPO of Exicom Tele-Systems Limited is priced at ₹135-142 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Feb 27, 2024 and ends on Feb 29, 2024. The allotment for Exicom Tele-Systems Limited IPO will be finalized on Mar 1, 2024. Exicom Tele-Systems Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Mar 5, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 100 shares, extendable to 14,200. S-HNIs will be able to bid for 1,500 shares at ₹2,13,000, while B-HNIs can also apply for a bid of 7,100 shares at ₹10,08,200. The book-running lead manager for the IPO is/are Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, Systematix Corporate Services Limited.

The total issue ₹429 crore, comprising a fresh issue of 2,31,69,014 shares ₹329 crore and having Offer for Sale (OFS) of 70,42,200 shares to mop up ₹100 crore.

The Exicom Tele-Systems Limited IPO sets its price band at 135-142 for each share. A single application for Exicom Tele-Systems Limited IPO must contain at least 100 shares. Sentiment investors need to invest a minimum of 100 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,200 In order to participate in the sNII, investors must purchase at least 15 lots of 1,500 shares for ₹2,13,000, while the bNII requires 71 lots of 7,100 shares for an investment of ₹10,08,200.

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Exicom Tele-Systems Limited IPO Subscription Analysis And Details
Retail
119.58x
QIB
121.80x
NII
153.22x
bNII
157.69x
sNII
144.28x
Total
129.54x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 9,063,365 4,531,682
3,021,100    1,510,533 		3,021,100 16,616,168
Day 1 27-02-24 05:00 PM
0.73 x 19.02
16.70 x   23.66 x 		27.03 x 9.99 x
Day 2 28-02-24 05:00 PM
4.48 x 54.39
49.21 x   64.75 x 		64.79 x 27.78 x
Day 3 29-02-24 05:00 PM
121.80 x 153.22
157.69 x   144.28 x 		119.58 x 129.54 x
Total No of Applications
35,55,862
Exicom Tele-Systems Limited Valuations
EPS Pre IPO ₹0.65/-
EPS Post IPO ₹4.55/-
P/E Pre IPO 217.63
P/E Post IPO 31.24
ROE 13.38%
ROCE 10.92%
RoNW 2.75%
Price to Book Value 5.63
Exicom Tele-Systems Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-21
Assets 705.09 602.99 678.46
Revenue 723.40 848.96 524.36
Profit After Tax 6.37 5.14 3.45
Net Worth 232.00 221.57 213.44
Reserves & Surplus 213.61 207.39 201.55
Total Borrowing 117.92 107.67 101.76
About Exicom Tele-Systems Limited Company

Exicom Tele-Systems Limited specializes in power systems, electric vehicle (EV) charging, and other related solutions. The company operates under two business vericals.

Power Systems: Exicom provides uninterrupted power solutions for digital communication networks.
EV Charging Solutions: Exicom has deployed over 6,000 AC and DC chargers in India and Southeast Asia. Their EV charging solutions are designed to withstand harsh environmental and electrical conditions.As of March 31, 2023, the company is one of the first to enter the EV charger manufacturing segment in India. The company operates in the EV Charger business, which offers both slow charging solutions (primarily AC chargers for residential use) and fast charging solutions (DC chargers for business and public charging networks in cities and highways). The customer base includes established automotive OEMs (for passenger cars and EV buses), charge point operators (CPOs), and fleet aggregators.

By March 31, 2023, the company had installed more than 35,000 EV chargers across 400 locations in India.

The company's manufacturing facility is compliant with ISO 14001:2015, ISO 45001:2018, and ISO 9001:2015.

The company's revenue from operations increased from ₹ 5,129.05 million in FY'21 to ₹ 7,079.30 million in FY'23, representing a CAGR of 17.48%.

As of September 2023, the company has supplied its EV Chargers to over 70 customers, including 15 automotive OEMs, 32 national and regional CPOs and four fleet aggregators.

As of August 31, 2023, the company employs 1,124 employees in India, of which 421 are contractual. 705 employees are technically qualified - 431 with diplomas and 274 with engineering degrees. The company also has 43 employees at its subsidiaries.

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Exicom Tele-Systems Limited - Promoter(s)

NextWave Communications Private Limited

Anant Nahata

Pre Issue Share Holding : 93.28%

Post Issue Share Holding : N/A%

Exicom Tele-Systems Limited IPO - Issue Objectives
1

Part-financing the cost towards setting up of production/assembly lines at the planned manufacturing facility in Telangana

2

Repayment/pre-payment, in part or full, of certain borrowings of the company

3

Part-funding incremental working capital requirements

4

Investment in R&D and product development] General corporate purposes

Exicom Tele-Systems Limited IPO - Anchor Investors

Exicom Tele-Systems mobilises Rs 178 crore from anchor investors ahead of IPO.

Several marquee investors participated in the offer including Maybank Asiapac Ex-Japan Equity I Fund, Nepean Long Term Opportunities Fund, Abakkus Diversified Alpha Fund, Quant Mutual Fund, JM Financial Mutual Fund, Aditya Birla Sun Life Trustee, and SBI General Insurance Company.

Quant Mutual Fund through Quant Momentum Fund was the biggest investor in Exicom, buying Rs 53.05 crore worth of shares, followed by Bajaj Allianz Life Insurance Company which picked nearly Rs 20 crore worth shares.

ITI Small Cap Fund was the third largest investor in the company via anchor book, acquiring Rs 17.5 crore worth shares, followed by JM Flexicap Fund which bought Rs 12 crore worth of shares.

Exicom Tele-Systems Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
Exicom Tele-Systems Limited 3.38 3.38 25.24 N/A 2.75 N/A Consolidated
Servotech Power Systems Limited 0.52 0.56 3.86 155.96 13.47 21.01 Consolidated
Hbl Power Systems Ltd. 3.51 3.51 34.32 139.3 10.35 14.25 Standalone

Notes:

  1. For listed peer - sourced from the annual audited financial results of the listed peer for the year ended March 31, 2023.
  2. For listed peers, the P/E Ratio has been computed based on the closing market price of equity shares on the website of NSE as of January 25, 2024, divided by the Basic EPS.
  3. For listed peers, return on Net Worth for equity shareholders (%) (RONW) = Profit for the year divided by total net worth. Net worth means equity share capital plus other equity.
  4. For listed peers, NAV is computed as equity attributable to owners (total equity) divided by the number of equity shares outstanding at the end of the year.
  5. For the Company, after March 31, 2023, the Company undertook a bonus issue of Equity Shares in the proportion of 11 Equity Shares for every one Equity Share held by the Shareholders as on the record date as September 15, 2023, pursuant to resolutions dated September 15, 2023, and September 16, 2023 passed by the Board and Shareholders, respectively and the NAV per Equity Share disclosed above is adjusted for the bonus issue.