Exicom Raises ₹259 Crore via Oversubscribed Rights Issue

Exicom Tele-Systems Limited (NSE: EXICOM) has successfully concluded its Rights Issue, raising ~₹259.41 crore. The issue received investor response and was oversubscribed, reflecting continued shareholder confidence and robust promoter backing.

Rights Issue Details and Promoter Support

The Rights Issue was open for subscription from July 15 to July 30, 2025, and offered 18.14 lakh fully paid-up equity shares at ₹143 per share. Eligible shareholders were offered shares in the ratio of 3 equity shares for every 20 held as of the record date, July 7, 2025.

Notably, the promoters subscribed to approximately ₹120 crore, underscoring their long-term confidence in Exicom’s strategic vision and growth trajectory.

Use of Proceeds: Deleveraging and Global Expansion

The capital raised through the issue will primarily be deployed for deleveraging, with Exicom targeting a debt-to-equity ratio of 1:4 by the end of FY26. This is part of the company’s broader financial restructuring plan aimed at creating a more resilient and scalable balance sheet.

Additionally, part of the funds will support general corporate purposes and fuel Exicom’s global growth ambitions, particularly its expansion across the United States, Europe, and Australia through its international arm, Tritium. These markets are seen as strategic growth drivers for the company’s EV charging and energy storage solutions.

Commenting on the rights issue and the company’s overall growth outlook, Anant Nahata, Managing Director and CEO of Exicom, said, “We are grateful to our shareholders for their continued trust in Exicom. The capital raised will strengthen our balance sheet and support our expansion, particularly in international markets through Tritium.”

He further added, “While Tritium’s turnaround is taking time, we are in advanced discussions for several large global high-power charger deals that we believe can help change the course of the company. We will see this fully play out starting FY27. Back home, we remain strongly optimistic about the India opportunity, driven by the steady growth in EV adoption across the country. Our Harmony Direct 2.0 continues to gain traction, with early momentum translating into a strong sales pipeline. Meanwhile, Spin Air home chargers are securing consistent wins with leading OEMs, reinforcing trust in our technology and execution." he added.

Shiraz Khanna, the company’s Chief Financial Officer, said: "This Rights Issue marks an important step in enhancing our financial health. The capital raised will enable us to significantly reduce debt and support sustainable growth while maintaining prudent capital discipline."

Also Read: Best EV Stocks in India in August 2025 Based on 5Y CAGR!

Conclusion

With the successful completion of its Rights Issue, Exicom is now better positioned to strengthen its financial health, scale operations, and accelerate international expansion. The oversubscription signals strong market trust in the company’s future and reinforces Exicom’s commitment to delivering long-term value to its stakeholders.

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