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New Delhi, EV chargers maker Exicom Tele-Systems Ltd on Thursday said it has fixed a price band of Rs 135-142 per share for its Rs 429 crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">Initial Public Offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword>). The initial share sale will be open for public subscription during February 27-29 and the bidding for anchor investors will open for a day on February 26, the company said. The maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares worth Rs 100 crore, at the upper end of the price band, by promoter <keyword id="20670993" type="General" weightage="20" keywordseo="nextwave-communications" source="keywords">NextWave Communications</keyword>. At present, NextWave Communications holds a 76.55 per cent stake in the company and HFCL, part of the promoter group, owns 7.74 per cent shareholding. Overall, promoters hold 93.28 per cent stake in Exicom Tele-Systems. Proceeds of the fresh issue will be used towards setting up production lines at the manufacturing facility in Telangana, investment in R&amp;D as well as product development, and payment of debt to support working capital requirements and for general corporate purposes. At the upper end of the price band, the IPO is expected to fetch Rs 429 crore. Investors can bid for a minimum of 100 equity shares and in multiples of 100 equity shares thereafter. Exicom Tele-Systems is a power management solutions provider and operates under two business verticals -- EV (electrical vehicle) charger solutions business and power solutions business. In the EV charger business, the company provides smart charging systems with innovative technology for residential, business, and public charging use in India and in the other vertical, it designs, manufactures and services DC Power Systems to deliver overall energy management at telecommunications sites and enterprise environments in India and overseas. Monarch Networth Capital, <keyword id="20688848" type="General" weightage="20" keywordseo="systematix-corporate-services" source="keywords">Systematix Corporate Services</keyword> and <keyword id="20688847" type="General" weightage="20" keywordseo="unistone-capital" source="keywords">Unistone Capital</keyword> are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and NSE.

Exicom Tele-Systems to raise ₹429 cr via IPO; sets price band at ₹135-142/share

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Exicom Tele-Systems to raise ₹429 cr via IPO; sets price band at ₹135-142/share

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