Subscribe To Our Free Newsletter |
Exicom Tele-Systems IPO to raise Rs 429 cr; sets price band at Rs 135-142
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 Initial Public Offering (IPO).
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 NextWave Communications.
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&D as well as product development, and ...