Exicom raises Rs 259 crore through rights issue

The issue was oversubscribed.

EV charging solution provider Exicom Tele-Systems Ltd today announced that it has successfully concluded its rights issue, raising approximately Rs 259.41 crore. The issue, which was open for subscription from July 15 to July 30, 2025, was oversubscribed.

The rights issue involved the offer of 18.14 lakh fully paid-up equity shares at Rs 143 per share, in the ratio of three shares for every 20 held as of the record date, July 7, 2025. Promoters contributed around Rs 120 crore.

Exicom MD and CEO Anant Nahata stated that the funds raised will strengthen the company's balance sheet and support its expansion, particularly in international markets through its subsidiary, Tritium.

He noted that while Tritium's turnaround is ongoing, advanced discussions are underway for several high-power charger deals, expected to materialise from FY27 onwards.

In India, Exicom continues to benefit from the growing adoption of electric vehicles, with its Harmony Direct 2.0, and Spin Air home chargers securing strong sales momentum.

Chief Financial Officer Shiraz Khanna said the capital infusion would help reduce debt and enable sustainable growth, targeting a debt-to-equity ratio of 1:4 by the end of FY26. The proceeds will primarily be used for deleveraging, general corporate expenses, and further international expansion.