Admin
05 May 2024

Exicom Tele-System Limited IPO

Exicom Tele-System Ltd. (ETSL) is an India headquartered power management solutions provider, operating under two business verticals,

(i) Critical power solutions business, wherein it designs, manufactures and services DC Power Systems and Li-ion based energy storage solutions to deliver overall energy management at telecommunications sites and enterprise environments in India and overseas ("Critical Power Business").
(ii) Electric vehicle supply equipment ("EV "EV Charger Business") and which commenced commercial sales in the Financial Year ended March 31, 2019.

ETSL aims to be an impact business contributing to the sustainable energy transition by enabling electrification of transportation and energy stability of digital communication infrastructure. Exicom Tele-Systems IPO is a book-built issue of Rs 429.00 crores. The issue is a combination of fresh issue of 2.32 crore shares aggregating to Rs 329.00 crores and offer for sale of 0.7 crore shares aggregating to Rs 100.00 crores. Exicom Tele-Systems IPO price band is set at ₹135 to ₹142 per share. The minimum lot size for an application is 100 Shares. Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd and Systematix Corporate Services Limited are the book running lead managers of the Exicom Tele-Systems IPO, while Link Intime India Private Ltd is the registrar for the issue.

Exicom Tele-Systems IPO Overview

Detail	Description
IPO Date	February 27, 2024 to February 29, 2024
Listing Date	March 5, 2024
Face Value	₹10 per share
Price Band	₹135 to ₹142 per share
Lot Size	100 Shares
Total Issue Size	30,211,214 shares (aggregating up to ₹429.00 Cr)
Fresh Issue	23,169,014 shares (aggregating up to ₹329.00 Cr)
Offer for Sale	7,042,200 shares of ₹10 (aggregating up to ₹100.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	97,655,501
Share holding post issue	120,824,515

Exicom Tele-Systems IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Tuesday, February 27, 2024
IPO Close Date	Thursday, February 29, 2024
Basis of Allotment	Friday, March 1, 2024
Initiation of Refunds	Monday, March 4, 2024
Credit of Shares to Demat	Monday, March 4, 2024
Listing Date	Tuesday, March 5, 2024
Cut-off time for UPI mandate confirmation	5 PM on February 29, 2024

Exicom Tele-Systems IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	100	₹14,200
Retail (Max)	14	1400	₹198,800
S-HNI (Min)	15	1,500	₹213,000
S-HNI (Max)	70	7,000	₹994,000
B-HNI (Min)	71	7,100	₹1,008,200

Exicom Tele-Systems IPO Reservation

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	12,538,800 (41.50%)	NA
QIB Shares Offered	10,119,700 (33.50%)	NA
NII (HNI) Shares Offered	4,531,600 (15.00%)
bNII > ₹10L	3,021,100 (10.00%)	2,014
sNII < ₹10L	1,510,500 (5.00%)	1,007
Retail Shares Offered	3,021,100 (10.00%)	30,211
Total Shares Offered	30,211,200 (100%)

Exicom Tele-Systems IPO Promoter Holding

Share Holding Pre Issue	93.28%
Share Holding Post Issue

Exicom Tele-Systems IPO Anchor Investors Details

Bid Date	February 26, 2024
Shares Offered	12,538,800
Anchor Portion Size (In Cr.)	178.05
Anchor lock-in period end date for 50% shares (30 Days)	March 31, 2024
Anchor lock-in period end date for remaining shares (90 Days)	May 30, 2024

Company & Financials

Incorporated in 1994, Exicom Tele-Systems Limited specializes in power systems, electric vehicle (EV) charging and other related solutions. The company operates under two business verticals.

1. Power Systems: Exicom provides uninterrupted power solutions for digital communication networks.

2. EV Charging Solutions: Exicom has deployed over 61000 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 among the first to enter India's EV charger manufacturing segment. The company operates in the EV Charger business, which offers both slow charging solutions and fast charging solutions. The customer base includes established automotive OEMs (for passenger cars and EV buses), charge point operators (CPOs), and fleet aggregators. By September 30, 2023, the company had installed more than 61,000 EV chargers across 400 locations in India. As of September 30, 2023, the company has deployed 470,810 Li-ion Batteries for application in the telecommunications sector, equivalent to a storage capacity of over 2.10 GWH.

Exicom Tele-Systems Limited Financial Information

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	629.41	705.09	602.99	678.46
Revenue	467.21	723.40	848.96	524.36
Profit After Tax	27.46	6.37	5.14	3.45
Net Worth	311.40	232.00	221.57	213.44
Reserves and Surplus	204.95	213.61	207.39	201.55
Total Borrowing	72.84	117.92	107.67	101.76
Amount in ₹ Crore

Key Performance Indicator

KPI	Values
ROE	13.38%
ROCE	10.92%
RoNW	2.75%
P/BV	5.63

	Pre IPO	Post IPO
EPS (Rs)	0.65	4.55
P/E (x)	217.63	31.24

Objectives of Exicom Tele-Systems IPO

The company proposes to utilize the Net Proceeds towards funding the following objectives:

● Part-financing the cost towards setting up production/assembly lines at the planned manufacturing facility in Telangana.
● Repayment/prepayment, in part or full, of certain borrowings of the company.
● Part-funding incremental working capital requirements.
● Investment in R&D and product development.
● General corporate purposes.

Exicom Tele-Systems IPO Review

The company is the first mover in power management solutions and EV charging infrastructure. It has 60% market share in the EV charging segment and is poised for bright prospects ahead with the shift from conventional fuel to EV vehicles globally. The company marked a minor setback for FY23 top-line due to hiving off of its battery related business. Based on FY24 annualized earnings, the issue appears fully priced. However, considering the rising opportunities and timely expansion plans, investors may lap it up for the medium to long term rewards.

FAQs for Exicom Tele-Systems IPO

What Is The Size Of The Exicom Tele-Systems IPO?

Exicom Tele-Systems plans to launch an Initial Public Offering (IPO). This comprises a new share issuance of INR 400 crores and the sale of 740 crores of existing equity shares. The funds generated will be utilized for facility setup, debt repayment, working capital, R&D, and general corporate purposes for the Company’s financial allocation.
What Is The Price Band Of The Exicom Tele-Systems IPO?

The price band of the Exicom Tele-Systems IPO is INR 135 to 142 per share.
What are the open and close dates for Exicom Tele-Systems Ltd IPO?

Exicom Tele-Systems Ltd IPO Opens for subscription from 27-Feb-2024 to 29-Feb-2024.
What is the lot size and minimum order quantity of the Exicom Tele-Systems Ltd IPO?

The lot size of Exicom Tele-Systems Ltd is 100 shares. Retail investors can subscribe to minimum 1 lot and maximum 14 lots. The minimum and maximum application value is ₹14200 and ₹198800 respectively.
What are the allotment dates for the Exicom Tele-Systems Ltd IPO?

Allotment date for Exicom Tele-Systems Ltd is 01-Mar-2024 and refund of application amount (in case allotment is not received) will begin from 04-Mar-2024. If your allotment goes through, then shares will be credited in your Demat account by 04-Mar-2024.