Exicom Tele-Systems: First Electric Vehicle Charging Company To Issue IPO

Exicom Tele-Systems, a prominent EV charging company, is gearing up to launch its IPO. According to the company's DRHP, it aims to raise Rs 400 crores through a fresh issue, with an overall issue size of around 450 crores. With a commanding 60 percent market share in residential charging and 25 percent in public charging segments, Exicom Tele-Systems reported a revenue of ₹708 crore in FY23. Notably, its profit after tax surged by 24 percent to 6.3 crores in FY23, following a remarkable 50 percent increase in FY22. A key player in the EV charging sector, approximately 32 percent of the company's revenue is attributed to EV charging solutions. BTTV's Sakshi Batra explains the possible opportunities for investors.