Exicom Tele-Systems Limited, a manufacturer of electric vehicle (EV) charging and critical power solutions, has successfully concluded its rights issue, raising approximately ₹259.41 crore through the issuance of fully paid-up equity shares. The offering was oversubscribed, indicating strong participation from existing shareholders.
The rights issue was open for subscription from July 15, 2025, to July 30, 2025, and offered 1.814 million equity shares at ₹143 per share on a 3:20 basis—three shares for every 20 held as of the record date, July 7, 2025. Promoters subscribed to approximately ₹120 crore of the total, reflecting their continued involvement in the company’s capital structure.
Anant Nahata, Managing Director and CEO of Exicom, stated that the proceeds will be used to strengthen the company’s balance sheet and support ongoing expansion efforts, particularly in international markets through its association with Tritium, an Australian EV charger manufacturer in which Exicom holds a significant stake.
“The capital raised will support our strategic objectives, including international growth and domestic market expansion,” Nahata said. “We are engaged in advanced discussions on several high-power charging projects globally, with outcomes expected to become visible from FY27 onward.”
Domestically, Nahata noted steady demand for Exicom’s EV charging products, including the Harmony Direct 2.0 and Spin Air home chargers, which have been adopted by multiple original equipment manufacturers (OEMs). He cited growing EV adoption in India as a key driver of future growth.
Shiraz Khanna, Chief Financial Officer of Exicom, emphasized that a primary use of the funds will be debt reduction. The company aims to achieve a debt-to-equity ratio of 1:4 by the end of FY26, as part of its plan to improve financial stability and maintain capital discipline.
In addition to deleveraging, the proceeds will be allocated toward general corporate purposes and support Exicom’s operations in key international markets, including the United States, Europe, and Australia.
With the completion of the rights issue, Exicom is positioned to advance its growth strategy in the EV charging and energy infrastructure sectors, while focusing on long-term financial sustainability.