Exicom Tele-Systems, India’s Leading EV Charger Manufacturer, Gears Up for IPO on February 27th

Exicom Tele-Systems

Exicom Tele-Systems, a company that provides power management solutions, is launching its Initial Public Offering (IPO) on February 27th, 2024.

This presents an opportunity for investors to participate in India’s growing electric vehicle (EV) charging infrastructure. The subscription window will remain open until February 29th.

The IPO will have a price band of around Rs 140 per share and comprise a fresh issue of shares worth Rs 329 crore and an offer-for-sale of 70.42 lakh shares. The anchor book will open on February 26th, ahead of the public offering.

The company plans to use the proceeds to establish a new manufacturing facility, repay debt, invest in research and development, and meet working capital requirements.
Exicom is a market leader in the Indian EV charging market, with a 60% market share in the residential segment and a 25% market share in the public segment.

The company has deployed over 35,000 chargers across the country and is known for providing reliable EV charging solutions. It operates in two verticals – EV chargers and critical power solutions – making it a diversified player in the market.

In FY23, Exicom Tele-Systems generated revenue from operations of Rs 707.93 crore. Although revenue decreased in FY23, profit after tax grew by 24% to Rs 6.37 crore.

The growth in Business

The company’s EV charger business has seen significant growth, accounting for 31.67% of revenue in FY23 compared to 8.44% in FY22. Overseas customers contributed 8.79% to total revenue in FY23.

Exicom Tele-Systems’ Upcoming IPO has attracted significant investor interest due to its position in the rapidly-growing EV market and its established track record. The company’s key customers include Reliance BP Mobility, Fortum Charge & Drive India, BluSmart Mobility, and leading automotive OEMs.

Conclusion

Exicom Tele-Systems is launching an IPO that offers investors a unique opportunity to invest in India’s growing EV market.

With its strong market position, diversified business model, and proven track record, the company is well-positioned to benefit from the rising demand for EV charging infrastructure.