Updated March 5th, 2024 at 10:32 IST

Exicom Tele-Systems IPO lists at 87% premium, marks strong market debut

Post-listing, Exicom shares rose 93.30% to an intraday high of Rs 274.5 against the issue price of Rs 142 on the NSE.

Reported by: Business Desk
Exicom Tele-Systems IPO listing | Image:Exicom Tele-Systems
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Exicom Tele-Systems IPO listing: Gurgaon-based power management solutions provider, Exicom Tele-Systems Limited, made a grand entrance into the stock market today, listing at a premium of 87 per cent on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This comes following the successful completion of its Initial Public Offering (IPO), which garnered significant investor interest.

Post-listing, Exicom shares rose 93.30 per cent to an intraday high of Rs 274.5 against the issue price of Rs 142 on the NSE.

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The Exicom Tele-Systems IPO, a book-built issue worth Rs 429 crore, comprised a combination of a fresh issue of 2.32 crore shares amounting to Rs 329 crore and an offer for sale of 0.7 crore shares totaling Rs 100 crore.

The IPO bidding commenced on February 27, 2024, and concluded on February 29, 2024, with the allotment finalised on Friday, March 1, 2024. Subsequently, the company's shares debuted on both the BSE and NSE on March 5, 2024, witnessing a remarkable premium upon listing.

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The price band for the Exicom Tele-Systems IPO was set at Rs 135 to Rs 142 per share, with a minimum lot size of 100 shares. Retail investors were required to invest a minimum amount of Rs 14,200, while qualified institutional buyers (QIBs) and non-institutional investors (NIIs) had larger minimum lot size investments.

Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd, and Systematix Corporate Services Limited acted as the book-running lead managers for the Exicom Tele-Systems IPO, with Link Intime India Private Ltd serving as the registrar for the issue.

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Incorporated in 1994, Exicom Tele-Systems Limited specialises in power systems and electric vehicle (EV) charging solutions. Under its power systems vertical, the company provides uninterrupted power solutions for digital communication networks. In the EV charging solutions segment, Exicom has deployed over 61,000 AC and DC chargers in India and Southeast Asia, catering to a diverse customer base.

By September 30, 2023, the company had installed more than 61,000 EV chargers across 400 locations in India, highlighting its strong presence in the burgeoning EV market. Additionally, Exicom Tele-Systems has supplied its EV chargers to over 70 customers, including automotive OEMs, charge point operators, and fleet aggregators.

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With a robust manufacturing facility that adheres to international quality standards, Exicom Tele-Systems is well-positioned to capitalise on the growing demand for EV charging infrastructure in India and beyond. As of September 2023, the company employs over 1,190 individuals, further underscoring its commitment to innovation and excellence in the power and EV charging sectors.
 

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Published March 5th, 2024 at 10:32 IST