The initial public offering (IPO) of EV charger maker Exicom Tele-Systems will begin on February 27 and end on February 29. On February 26, the anchor book will open. A new issue of shares valued at Rs 329 crore and an offer to sell 70.42 lakh shares make up the public offer. Sources claim that the issue price may be approximately Rs 140.

The company is owned by NextWave Communications, Satellite Finance, and Vinsan Brothers, with respective stakes of 76.55 percent, 4.64 percent, and 4.35 percent. HFCL owns 7.74 percent of the business. A major factor in the HFCL stock’s above 30% annual rise to far has been Exicom’s impending IPO.

Exicom Tele-Systems intends to invest in its cutting-edge R&D facility, pay down debt, establish a manufacturing plant in Telangana, and satisfy working capital needs with the money acquired through the IPO.

The issue’s book-running lead managers are Systematix Corporate Services, Unistone Capital, and Monarch Networth Capital. The company’s promoters are Anant Nahata and NextWave Communications.

One supplier of power management solutions is Exicom Tele-Systems. It is divided into two business verticals: the EV chargers business, which offers smart charging solutions for public, commercial, and residential use in India.

The other is the key power solutions company, which develops, produces, and maintains critical digital infrastructure technology to provide comprehensive energy management at telecom sites and corporate settings both domestically and internationally.

The business was one of the first to enter the market for EV chargers. Its market shares in the domestic and public charging segments were 25% and 60%, respectively, as of March 31, 2023. In addition, it had set up over 35,000 EV chargers in 400 places around India.

Financially speaking, the company’s profit after taxes increased by 24% to Rs 6.37 crore in FY23 compared to the same period the previous year, but its revenue from operations decreased by 16% to Rs 707.93 crore.

From 17.66 percent in FY22 to 10.92 percent in FY23, RoCE decreased. International clients made up 8.79 percent of overall operating revenue in FY23.

From 91.56 percent in FY22 to 68.33 percent in FY23, the CPS business’s revenue decreased. In the same time frame, revenue from the EV charging business increased from 8.44 percent to 31.67 percent.

National CPOs like Reliance BP Mobility Limited (JioBP) and Fortum Charge & Drive India, fleet aggregators like BluSmart Mobility and Lithium Urban Technologies, and automakers like Mahindra & Mahindra, MG Motors, and JBM are among the clients of Exicom Tele-Systems’ EV charger business.

The Solan Facility in Solan, Himachal Pradesh, and the Gurugram Facility I and II in Gurugram, Haryana, are the three production facilities in India that the company runs.