Exicom Tele-Systems Ltd IPO
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Exicom Tele-Systems Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 302.11 L | ₹ 70.42 L | ₹ 30.21 L | ₹ 747.55 L | BSE | ₹ 429 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 27 Feb, 24 | 29 Feb, 24 | 100 | ₹ 13,500 | Book Building | 05 Mar, 24 |
Exicom Tele-Systems Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Electric Equipment |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 55.75x | 22658411 | 1263150400 |
| NII | 159.31x | 4531682 | 721954100 |
| Retail | 124.34x | 3021121 | 375659800 |
| Employee | 0x | 0 | 0 |
| Total | 78.14x | 30211214 | 2360764300 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Exicom Tele-Systems Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 1,019.60 | 707.93 | 842.81 |
| EBITDA | 132.30 | 43.04 | 38.62 |
| PAT | 66.43 | 7.84 | 4.05 |
| Total Assets | 784.28 | 364.72 | 374.45 |
| Share Capital | 120.82 | 7.23 | 7.23 |
| Total Borrowings | 115.30 | 131.62 | 141.19 |
| Operating Activities (Net Cash) | 84.38 | 23.41 | 18.57 |
| Investing Activities (Net Cash) | -17.94 | 2.75 | -3.59 |
| Financing Activities (Net Cash) | 115.30 | 131.62 | 141.19 |
| Net Cashflow | 315.22 | 25.20 | 21.31 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Exicom Tele-Systems Ltd
Exicom Tele-Systems Limited was incorporated as Himachal Exicom Communications Limited, a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh situated at Jalandhar on May 9, 1994. The Company was granted a certificate of commencement of business on May 11, 1994, by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh situated at Jalandhar. The name of the Company was changed to Exicom Tele-Systems Limited, pursuant to a resolution passed by its Shareholders on August 6, 2008, and a fresh certificate of incorporation consequent upon change of name issued by the RoC on August 11, 2008.
The increasing demand for mobile data and voice services, the growing adoption of 4G and 5G networks, and the need for reliable and uninterrupted power supply for telecommunication towers are the key factors driving the growth of the global telecommunication power market. The market size for telecommunication DC power systems (including hybrid systems) in India is estimated at ~ Rs. 15 billion for Financial Year 2023, with upgradation and replacement demand expected to drive the industry with 75% demand while balance 25% demand expected on account of new tower additions. The energy storage solutions market for telecommunications is valued at Rs. 19.5 billion in Financial Year 2023, while the market size for Li-ion battery energy storage systems in data centers is valued at Rs. 3.2 billion in Financial Year 2023. CRISIL MI&A estimates the current EV charging market in India to be valued at ~ Rs. 8.5 billion as of Financial Year 2023.
Incorporated in 1994, the company is an India headquartered power management solutions provider, operating under two business verticals, (i) its critical power solutions business, wherein it designs, manufactures and services DC Power Systems and Li-ion based energy storage solutions to deliver overall energy management at telecommunications sites and enterprise environments in India and overseas (Critical Power Business); and (ii) its electric vehicle supply equipment (EV Charger(s)) solutions business, wherein the company provides smart charging systems with innovative technology for residential, business, and public charging use in India (EV Charger Business), and which commenced commercial sales in the Financial Year ended March 31, 2019. The Company was amongst the first entrants in the EV Chargers manufacturing segment in India and as of March 31, 2023, it had a market share of 60% and 25% in the residential and public charging segments, respectively. Furthermore, in our Critical Power Business, we occupy a market share of 16% in the DC Power Systems market and are recognized in the market for Li-ion Batteries for application in the telecommunications sector, having a market share of approximately 10% as of March 31, 2023. Under its Critical Power Business, its products are categorized under indoor power systems, outdoor power systems, hybrid power systems and Liion Batteries and under our EV Charger Business, its products are categorized under AC chargers and DC fast chargers. Further, The Company provides its customers with a wide range of services covering installation and commissioning, maintenance and operations, supplying individual spare parts and repair and return. The revenue contribution of its two business verticals for the six months ended September 30, 2023 and September 30, 2022 and three preceding Financial Years.
Peer Comparison:
- Servotech Power Systems Ltd
- HBL Power Systems Ltd
Exicom Tele-Systems Ltd IPO Key Points
Strengths
- Established player in the Indian EV Charger market, with an early-mover-and-learner advantage in a fastgrowing industry characterized by high entry barriers.
- Domain experience and know-how and diversified product portfolio with a track record of demonstrated outcomes in critical cases.
- Vertically integrated operations, backed by manufacturing capabilities, robust supply chain, significant research and development activities and sales and marketing initiatives.
- Significant product development and focussed engineering capabilities.
- Track record of long-standing relationships with an established customer base.
Risk
- Its electric vehicle supply equipment business (EV Charger Business) is correlated with and thus dependent upon the continuing rapid adoption of, and demand for electric vehicles (EVs)
- The company is dependent on the five most significant customers under its critical power solutions business (Critical Power Business), who contributed over 50% of its revenue from operations in each of the last three Financial Years. Loss of any of these customers or a reduction in purchases by any of them could adversely affect its business, results of operations and financial condition.
- The company is dependent on global suppliers for the supply of raw materials and key inputs and may not be able to reduce its dependency on such imports. If critical components or raw materials become scarce or unavailable, then its may incur delays in manufacturing and delivery of its products and in completing its development programs, which could damage the company business.
Strategy
- Capitalize on EVSE industry tailwinds, including through proposed expansion.
- Continue to invest in our capabilities of product innovation, engineering and design with focus on indigenisation.
- Increase penetration in existing markets, and expand into new overseas markets.
- Expand its product portfolio to increase sales to existing customers and cater to new customer industries and use-cases.
- Invest in digital transformation of its business operations to improve operational efficiencies and customer experience.
- Established player in the Indian EV Charger market, with an early-mover-and-learner advantage in a fastgrowing industry characterized by high entry barriers.
- Domain experience and know-how and diversified product portfolio with a track record of demonstrated outcomes in critical cases.
- Vertically integrated operations, backed by manufacturing capabilities, robust supply chain, significant research and development activities and sales and marketing initiatives.
- Significant product development and focussed engineering capabilities.
- Track record of long-standing relationships with an established customer base.
How To Apply for Exicom Tele-Systems Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.