So far, the stock has hit a high of 274.45 and a low of 233.30. On the BSE, over 10.01 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of Exicom Telesystems was subscribed 129.54 times. The issue opened for bidding on 27 February 2024 and it closed on 29 February 2024. The price band of the IPO was fixed at Rs 135 to 142 per share.

The IPO comprised fresh issue of equity shares worth up to Rs 329 crore and an offer for sale of 70,42,200 equity shares aggregating up to Rs 100 crore by NextWave Communications.

The objectives of the fresh issue include Rs 145.7 crore for part-financing the cost to set up production and assembly lines at the planned manufacturing facility in Telangana, Rs 50.2 crore for repayment and pre-payment, of certain borrowings, Rs 69 crore to part-fund incremental working capital, Rs 40 crore for investment in R&D and product development, and the remaining amount for general corporate purposes.

Exicom Tele-Systemswas incorporated in 1994, it is a power management solutions provider specializing in power systems, electric vehicle (EV) charging and other related solutions.

The company has two business verticals, critical power solutions business: 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; and EV supply equipment solutions business: providing smart charging systems with innovative technology for residential, business and public charging use in India.

The firm reported a net profit of Rs 27.46 crore and sales of Rs 455.04 crore for the six months ended on 30 September 2023.