exicom.com Tele-Systems Ltd. (ETSL) has unveiled its Initial Public Offering (IPO) of equity shares, commencing on Tuesday, 27th February, 2024. The IPO offers shares at a price band ranging from ₹135 to ₹142 per equity share. Interested investors can bid for a minimum of 100 equity shares, with subsequent bids in multiples of 100 shares.
The IPO consists of a fresh issue of equity shares amounting to ₹329 crore and an Offer for Sale of up to 7,042,200 equity shares. At the upper price band, the IPO’s total size is estimated to be ₹429 crore. The IPO subscription window will close on Thursday, 29th February, 2024.
The company plans to allocate the proceeds from the fresh issue towards various purposes, including financing the establishment of production/assembly lines at a planned manufacturing facility in Telangana (₹145.72 crore), repayment/pre-payment of certain borrowings (₹50.29 crore), funding incremental working capital requirements (₹69 crore), investment in Research & Development (R&D) and product development (₹40 crore), and general corporate purposes.
The Offer for Sale comprises up to 7,042,200 equity shares offered by NextWave Communications Private Ltd., the Promoter Selling Shareholder.
Investors are keenly watching Exicom Tele-Systems Ltd.’s IPO, which presents an opportunity to participate in the company’s growth trajectory and contribute to its strategic initiatives.
