Exicom Concludes Rights Issue, Raises Over Rs. 259 Crore (Press Release) | V3Cars

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Here’s what Exicom has to say about the successful rights issue:

Exicom Tele-Systems Limited (NSE: EXICOM), one of India's leading EV charging and critical power solutions manufacturer, today announced the successful completion of its Rights Issue, raising approximately INR 259.41 crore through the issuance of fully paid-up equity shares. The issue was oversubscribed, reflecting continued confidence from shareholders and strong backing from the promoters.

The Rights Issue was open for subscription from July 15, 2025 to July 30, 2025, it offered 18.14 lakh fully paid-up equity shares at INR 143 per share, on a rights basis, in the ratio of 3 equity shares for every 20 held as of the record date, July 7, 2025. The promoter subscribed to approximately INR 120 crore, underscoring their long-term commitment and confidence in Exicom’s growth trajectory.

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.

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.

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.

The proceeds from the Rights Issue will primarily be used for deleveraging and reducing the debt. Exicom is targeting a debt-to-equity ratio of 1:4 by the end of FY26, as part of its broader objective to build a more resilient and growth-ready financial structure.

In addition to debt reduction and funding general corporate expenses, the capital raised will also support Exicom’s global growth plans, including deepening its presence in key international markets such as the United States, Europe and Australia through Tritium.

With this successful completion, Exicom is well-positioned to scale its EV charging and critical energy solutions while delivering long-term value to stakeholders.

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