Exicom Tele-Systems IPO

Exicom Tele-Systems Limited

₹13,500 /100 sharesMinimum Investment

Exicom Tele-Systems IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE & NSE₹142.00₹264.00₹122.00 (85.92%)

Exicom Tele-Systems IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
27 Feb ‘24 - 29 Feb ‘24₹13,500100₹135 - ₹142
Issue SizeIPO Doc
429.00Cr
RHP PDF

Subscription Status As on Invalid Date

  • Qualified Institutional Buyers
    121.80x
  • Non-Institutional Investor
    153.00x
  • Retail Individual Investor
    117.66x
  • Total
    129.16x

About Exicom Tele-Systems

Exicom Tele-Systems Limited is an India-headquartered company that specializes in power management solutions with two key business segments, Critical Power Business and EV Charger Business. In the Critical Power Business, they design, manufacture, and service DC Power Systems and Li-ion energy storage solutions for telecommunication sites. Simultaneously, the EV Charger Business offers smart charging systems for residential, business, and public use in India. The company operates with vertical integration, managing product development from concept to prototype testing. It has two dedicated R&D centres. Its product portfolio is manufactured in-house across three facilities in India, located in Solan, Himachal Pradesh, and Gurugram, Haryana. These facilities collectively have an annual capacity of 12,000 DC Power Systems, 44,400 AC chargers and DC fast chargers, with a total built-up area of 134,351.95 sq. ft.;
Parent Organisation
Exicom Tele-Systems Limited
Founded
1994
Managing Director
Mr. Anant Nahata

Strengths & Risks

  • The company's EV Charger Business initiated commercial sales in the Fiscal Year ending March 31, 2019. As of the current Red Herring Prospectus, they have supplied EV Chargers to over 70 customers, including 15 automotive OEMs, 32 national and regional CPOs, and 4 fleet aggregators.
  • The company has an R&D team of 145 employees, as of September 30, 2023, housed at its two R&D centres located in Gurugram, Haryana and Bengaluru, Karnataka.
  • The company primarily provides its EV chargers to established automotive OEMs in India, including Mahindra & Mahindra Limited, MG Motors Limited and JBM Limited; national CPOs providing public charging infrastructure such as Reliance BP Mobility Limited (JioBP) and Fortum Charge & Drive India Private Limited, and fleet aggregators such as Blu Smart Mobility and Lithium Urban Mobility.
  • The company’s revenue from operations was Rs. 512.9 cr, Rs. 842.8 cr and Rs. 707.9 cr in FY 2021, 2022, and 2023 respectively. In the same time periods, it reported Profit after Tax of Rs. 3.45 cr, Rs. 5.14 cr and Rs. 6.37 cr.
  • The company relies significantly on the top five customers, who contributed over 50% of revenue from operations in the last three Financial Years, under the Critical Power Business. These customers, including Government of India entities/PSUs, are crucial, and any loss or reduction in purchases from them could negatively impact the company's business, operational results, and financial condition.
  • The company heavily relies on international suppliers for essential raw materials and key inputs. There is a limited ability to reduce this dependency, and any scarcity or unavailability of critical components may result in manufacturing and delivery delays, potentially harming the business and development programs.
  • The company reported operating losses of Rs. 10.79 cr in the Fiscal Year ending March 31, 2021. Potential future operating losses could negatively affect the business and the value of Equity Shares.
  • The company's EV Charger business benefits from various fiscal and non-fiscal incentives, tax benefits, and government schemes aimed at fostering the growth of the EV industry. Any alteration or reversal of these schemes by the Government of India or State Governments may adversely impact the company's results of operations, financial condition, and cash flows.
  • The company and its subsidiaries are currently involved in ongoing legal proceedings. An unfavorable outcome in any of these cases has the potential to negatively impact the company's reputation, business operations, financial condition, and results of operations.
  • The company has certain contingent liabilities. Its financial condition and profitability could be adversely affected if any of these contingent liabilities materialize.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular135 - 142₹2 Lakh
High Networth Individual135 - 142₹2 - 5 Lakh
For Exicom Tele-Systems IPO, eligible investors can apply as Regular.
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