Exicom Tele-Systems Limited

Exicom Tele-Systems Limited is an Indian power management solutions provider incorporated in 1994, operating through two principal business lines. Its critical power solutions business designs, manufactures and services DC power systems and lithium-ion based energy storage solutions used at telecommunication sites and enterprise facilities across India and overseas markets. Its second line, electric vehicle supply equipment, supplies smart charging systems for residential, commercial and public charging use and commenced commercial sales in FY2019. The company has built substantial scale in EV charging infrastructure, having deployed tens of thousands of AC and DC chargers across hundreds of locations in India and Southeast Asia, serving a base of customers that includes numerous automotive original equipment manufacturers. In the residential and public EV charging segments the company held roughly 60 percent and 25 percent market share respectively as of March 2023. Its manufacturing operations, based out of Himachal Pradesh, hold ISO 9001, ISO 14001 and ISO 45001 certifications and employ a workforce with a large proportion of technically qualified engineering and diploma-holding staff. Revenue grew from roughly Rs 524 crore in FY2021 to about Rs 723 crore in FY2023, a trajectory reflecting rising demand for both its telecom power systems and EV charging products. Proceeds from its public issue were earmarked substantially for a new manufacturing facility in Telangana, partial debt repayment, working capital and continued investment in research and development, positioning the company to expand capacity as India's EV charging and telecom power markets scale up.

The company raised about Rs 178 crore from anchor investors at the Rs 142 per share issue price, with Quant Mutual Fund taking the largest allocation at roughly Rs 53 crore, followed by Bajaj Allianz Life Insurance at about Rs 20 crore and ITI Small Cap Fund at around Rs 17.5 crore.