Exicom Tele-Systems (MAINBOARD)
Feb 27, 2024 - Feb 29, 2024
| Price | ₹135 - ₹142 |
| Premium | ₹160 |
|---|---|
| Lot size | 100 |
| Allotment | Mar 2, 2024 |
| Listing | Mar 5, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 100 | 14200 | 30211 |
| sHNI | 15 | 1500 | 213000 | 1007 |
| bHNI | 71 | 7100 | 1008200 | 2014 |
Last Updated as on 29-Feb-2024 17:57:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 10119700 | 1263150400 | 124.82 |
| HNIs | 4531600 | 721831900 | 159.29 |
| HNIs (10+L) | 3021067 | 495344100 | 163.96 |
| HNIs (2-10L) | 1510533 | 226487800 | 149.94 |
| Retail | 3021100 | 375388800 | 124.26 |
| Total | 17672400 | 2360371100 | 133.56 |
| Total Application : 3,555,601 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹23.79 | @8% ₹27.19 | @9% ₹30.59 | @10% ₹33.99 | @11% ₹37.39 | @12% ₹40.79 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹65584 |
Exicom Tele-Systems Anchor Details
| Name of Anchor Investor | No. of Shares | % of Anchor | Amount (cr.) |
|---|---|---|---|
| QUANT MUTUAL FUND | 37,36,000 | 29.80% | 53.05 |
| BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD | 14,08,400 | 11.23% | 19.99 |
| ITI SMALL CAP FUND | 12,32,400 | 9.83% | 17.5 |
| JM FINANCIAL MUTUAL FUND - JM FLEXICAP FUND | 8,45,000 | 6.74% | 11.99 |
| ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED A/C-ADITYA BIRLA SUN LIFE SMALL CAP FUND | 7,04,100 | 5.62% | 9.99 |
| SRI GENERAL INSURANCE COMPANY LIMITED - FRSM | 7,04,200 | 5.62% | 9.99 |
| ABAKKUS DIVERSIFIED ALPHA FUND - 2 | 7,04,300 | 5.62% | 10 |
| ARYABHATA GLOBAL ASSETS FUNDS ICAV - ARYABHATA INDIA FUND | 5,28,100 | 4.21% | 7.49 |
| K INDIA OPPORTUNITIES FUND I | 5,28,100 | 4.21% | 7.49 |
| ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED A/C-ADEFYA BIRLA SUN LIFE TRANSPORTATION AND LOGISTICS FUND | 3,52,200 | 2.81% | 5 |
| SAMCO DYNAMIC ASSET ALLOCATION FUND | 3,52,200 | 2.81% | 5 |
| MAYBANK ASIAPAC EX - JAPAN EQUITY FUND | 3,52,200 | 2.81% | 5 |
| NEPEAN LONG TERM OPPORTUNITIES FUND II | 3,52,200 | 2.81% | 5 |
| JM FINANCIAL MUTUAL FUND - JM MIDCAP FUND | 2,81,700 | 2.25% | 4 |
| JM FINANCIAL MUTUAL FUND-JM VALUE FUND | 2,81,700 | 2.25% | 4 |
| ITI LARGE CAP FUND | 1,76,000 | 1.40% | 2.49 |
| Total | 1,25,38,800 | 100% | 178.05 |
Established in 1994, Exicom Tele-Systems Limited is a leading provider of power systems and electric vehicle (EV) charging solutions. With a strong foothold in two key segments:
Power Systems: Exicom specializes in delivering reliable power solutions for digital communication networks, ensuring uninterrupted operations.
EV Charging Solutions: A leader in EV charging infrastructure, Exicom has deployed over 6,000 AC and DC chargers across India and Southeast Asia. Their robust solutions are designed to with stand challenging conditions.
By March 2023, Exicom emerged as an early player in India's EV charger manufacturing sector. Offering both residential AC chargers and commercial DC fast chargers, they serve automotive OEMs, CPOs, and fleet aggregators. Their ISO-certified manufacturing facility upholds environmental, safety, and quality standards. Financially, Exicom's revenue surged from 512.9 crores in FY'21 to 707.93 crores in FY'23, marking a robust growth trajectory. With a broad customer base, including major OEMs and CPOs, Exicom has installed over 35,000 chargers across 400 locations in India by March 2023.
As of September 2023, Exicom employs 1,124 professionals in India, with 421 on contract. Notably, 705 are technically qualified, including engineers and diploma holders. Additionally, they have 43 employees at subsidiaries, contributing to their operational efficiency.
Exicom Tele-Systems IPO Details
| Issue Size | [30211214] shares (aggregating up to ₹[429] Cr) |
| Fresh Issue | [23169114] shares 329cr) |
| Offer for Sale | 7042200 shares of ₹10 (aggregating up to ₹[100] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 97655501 |
| Share holding post issue | 120824515 |
Exicom Tele-Systems IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Exicom Tele-Systems IPO Lead Manager(s)
- Monarch Networth Capital Ltd
- Unistone Capital Pvt Ltd
- Systematix Corporate Services Limited
Key Performance Indicator
| KPI | 2023 | 2022 | 2021 |
|---|---|---|---|
| ROE | 13.38% | 13.72% | 5.94% |
| ROCE | 10.92% | 17.66% | 5.33% |
| RONW | 2.75% | 2.32% | 1.62% |
| D/E | 0.40 | 0.38 | 0.50 |
| EPS con. op. | 3.38 | 3.31 | 1.38 |
| P/BV | 5.63 | | |
| P/E PRE IPO | 217.63 | | |
| P/E POST IPO | 31.24 | | |
Company Financials
Exicom Tele-Systems Limited Financial Information (Restated Consolidated)
Exicom Tele-Systems Limited's revenue decreased by -14.79% and profit after tax (PAT) rose by 24.07% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 705.09 | 602.99 | 678.46 |
| Revenue | 723.40 | 848.96 | 524.36 |
| Profit | 6.37 | 5.14 | 3.45 |
| Net Worth | 232.00 | 221.57 | 213.44 |
| Reserves | 213.61 | 207.40 | 201.55 |
| Borrowing | 117.92 | 107.67 | 101.76 |
| Amount in ₹ Crore | |||
Strength Factors
Early-Mover Advantage: Being an established player in a rapidly growing industry with high entry barriers provides the company with a significant advantage.
Domain Experience and Diversified Portfolio: The Company has a strong track record and diversified product portfolio, showcasing its expertise and ability to address various market needs effectively.
Vertical Integration: With vertically integrated operations, including manufacturing, supply chain management, and robust R&D activities, the company can maintain control over its processes and ensure quality standards.
Product Development and Engineering Capabilities: The Company’s focus on product development and engineering ensures that it stays competitive and can adapt to evolving market demands swiftly.
Established Customer Relationships: Long-standing relationships with a diverse customer base, including automotive OEMs, charge point operators, and fleet aggregators, demonstrate the company's reliability and trustworthiness.
Experienced Leadership: A qualified and experienced leadership and management team provide strategic direction and drive the company towards its goals effectively.
Risk Factors
Market Dependency: The Company’s EV Charger Business faces significant risk due to its heavy reliance on the growth of the electric vehicle (EV) market. A slowdown or stagnation in EV adoption could have detrimental effects on the company's revenue streams and overall financial performance.
Technological Evolution: There's a notable risk associated with the company's ability to keep pace with the fast-evolving landscape of the EV industry. Failure to stay updated with technological advancements and industry trends may result in the company falling behind competitors and struggling to meet the evolving demands of customers, potentially leading to a loss of market share.
Quality Assurance: The Company’s reputation and brand image are at risk if it fails to maintain stringent quality control measures. Any compromise in product quality could lead to customer dissatisfaction, tarnishing the company's reputation and potentially resulting in the loss of key customers and market share.
Regulatory Challenges: Regulatory actions taken against members of the Promoter Group by authorities like SEBI and Stock Exchanges introduce legal and reputational risks for the company. Such actions may raise concerns among investors, impact shareholder confidence, and result in increased scrutiny from regulatory bodies, potentially leading to further disruptions and financial losses.
Exicom Tele-Systems IPO Lead Manager(s)
- Monarch Networth Capital Ltd
- Unistone Capital Pvt Ltd
- Systematix Corporate Services Limited
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: exicom.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html