Exicom Tele-Systems submits draft documents to the Sebi for an initial public offering (IPO)

 Exicom Tele-Systems submits draft documents to the Sebi for an initial public offering (IPO)

Exicom Tele-Systems Initial Public Offering | The initial public offering consists of a fresh issue of equity shares with a maximum value of Rs 400 crore and an offer for sale component with a maximum number of 74 lakh equity shares by the promoter NextWave Communications.

Exicom Tele-Systems, a provider of power management solutions, has submitted preliminary documents to Sebi, the capital markets regulator, in order to seek money through an initial public offering (IPO).

According to the draft red herring prospectus (DRHP), which was filed on Wednesday, the initial public offering consists of a fresh issue of equity shares totaling up to Rs 400 crore and an offer for sale component of up to 74 lakh equity shares by the promoter NextWave Communications.

Currently, NextWave Communications controls 71.45% of the business.

The business intends to raise an additional Rs 80 crore through a pre-IPO placement deal. The size of the new issue will decrease if such placement is made.

The Telangana manufacturing facility's production lines will be built up, research and development investments will be made, new products will be developed, debt will be paid, working capital needs will be met, and general business goals will be served by the proceeds of the fresh issue.

Industry-leading EV charging solutions are created by Exicom Tele-Systems for use in residences, workplaces, and public areas.

The issue's book-running lead managers are Monarch Networth Capital, Systematix Corporate Services, and Unistone Capital.

It is proposed that the equity shares list on both the BSE and the NSE.