EV chargers maker Exicom Tele-Systems Ltd has garnered Rs 178 crore from anchor investors and Platinum Industries has mobilised over Rs 70 crore from such investors.
The IPO of these companies opened for public subscription on Tuesday and will conclude on Thursday. Besides, the maiden public issues of both firms subscribed within hours of opening on Tuesday.
According to a circular uploaded on BSE's website late on Monday, Exicom Tele-Systems has allotted 1.25 crore equity shares to funds at Rs 142 apiece, aggregating the transaction size to Rs 178.05 crore.
Quant Mutual Fund, JM Financial Mutual Fund, ITI Mutual Fund, Smaco Mutual Fund, and Bajaj Allianz Life Insurance Company are among the anchor investors that have allocated shares.
Initial Public Offering
The Rs 429 crore Initial Public Offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares worth Rs 100 crore, at the upper end of the price band, by promoter NextWave Communications.
Shares are available for bidding in the price range of Rs 135-142 apiece.
At present, NextWave Communications holds a 76.55 per cent stake in the company, and HFCL, part of the promoter group, owns a 7.74 per cent shareholding.
Overall, promoters hold a 93.28 per cent stake in Exicom Tele-Systems.
Proceeds of the fresh issue will be used towards setting up production lines at the manufacturing facility in Telangana, investment in R&D as well as product development, and payment of debt to support working capital requirements and for general corporate purposes.
Exicom Tele-Systems is a power management solutions provider and operates under two business verticals -- EV (Electrical Vehicle) charger solutions business and power solutions business.
In the EV charger business, the company provides smart charging systems with innovative technology for residential, business, and public charging use in India, and in the other vertical, it designs, manufactures, and services DC Power Systems to deliver overall energy management at telecommunications sites and enterprise environments in India and overseas.
Anchor Investors
With regard to Platinum Industries, the company, a multi-product company engaged in the business of manufacturing stabilisers, has mobilised Rs 70.6 crore from anchor investors.
The seven funds that participated in the anchor round are -- Baring Private Equity India AIF 2, Elara India Opportunities Fund, Saint Capital Fund, Antara India Evergreen Fund Ltd, NAV Capital VCC - NAV Capital Emerging Star Fund, Astorne Capital VCC Arven, Leading Light Fund VCC - The Triumph Fund.
The company's Rs 235 crore IPO is entirely a fresh issue of 1.38 crore equity shares.
The price band has been set at Rs 162 to 171 per share.
