Exicom IPO price band fixed at Rs 135 to Rs 142

EV charger manufacturer Exicom Tele Systems has fixed a price band of Rs 135 to Rs 142 per share, for its IPO that will open for bids on 27 February.

The anchor book is set to open on February 26 and the issue will close on February 29. 

The company proposes to utilise the net proceeds from listing on the National Stock Exchange, for part financing the costs towards setting up of production assembly lines at the planned manufacturing facility in Telangana amounting to Rs 145.72 crore, and investment in R&D and product development amounting to Rs 40 crore, among other funding objectives. 

The offer for sale comprises up to 7,042,200 equity shares by NextWave Communications.

Monarch Network Capital Limited, Unistone Capital Private Limited and Systematix Corporate Services Limited are the book running lead managers to the issue.