Exicom Tele-Systems to Raise ₹259.41 Crore via Rights Issue at ₹143/Share

Exicom Tele-Systems Limited has announced a Rights Issue to raise up to ₹259.41 crore (₹2,594.14 million) through the issuance of up to 1.81 crore fully paid-up equity shares. The shares will be offered at a price of ₹143.00 per Rights Equity Share, including a premium of ₹133.00, to eligible shareholders in the ratio of 3 Rights Equity Shares for every 20 fully paid-up equity shares held as of the record date, Monday, July 7, 2025. The issue is set to open on Tuesday, July 15, 2025, and will close on Wednesday, July 30, 2025.

Rights Issue Details

Exicom Tele-Systems Limited is undertaking this Rights Issue to raise capital, offering up to 18,140,840 new equity shares. Each share has a face value of ₹10, and the issue price has been fixed at ₹143.00 per share, which includes a premium of ₹133.00. This pricing aims to raise an aggregate amount of up to ₹259.41 crore, assuming full subscription to the issue. The offer is made on a rights basis, allowing existing eligible equity shareholders to subscribe to new shares in proportion to their current holdings. The ratio for the rights entitlement is 3 Rights Equity Shares for every 20 fully paid-up equity shares held by eligible shareholders as of the record date.

Key Dates and Timeline

The record date for determining the eligible equity shareholders for the Rights Issue was Monday, July 7, 2025. Following this, the Rights Entitlements (REs) were credited to the demat accounts of eligible shareholders on July 8, 2025. The subscription period for the Rights Issue commences on Tuesday, July 15, 2025. Shareholders wishing to renounce their rights entitlements on-market must do so by Friday, July 25, 2025. The off-market transfer of rights entitlements will close on Tuesday, July 29, 2025. The final date for application and subscription to the Rights Issue is Wednesday, July 30, 2025. The company's Board or the Rights Issue Committee reserves the right to extend the issue period, but not beyond 30 days from the issue opening date. It is important to note that no withdrawal of applications will be permitted by any investor after the issue closing date. The dispatch of the Letter of Offer and the application form to eligible shareholders was completed on Wednesday, July 9, 2025.

Application Process and Shareholder Information

All investors are mandatorily required to apply through the Application Supported by Blocked Amount (ASBA) process. Applications can be submitted in physical mode to Self-Certified Syndicate Banks (SCSBs) or through their online/electronic platforms. Investors holding shares in dematerialized form must apply from the same demat account where their Rights Entitlements are held. For those with multiple demat accounts, a separate application form is required for each. Eligible equity shareholders can also make applications on plain paper, provided all necessary details are specified as per SEBI ICDR Regulations. However, shareholders applying on plain paper are not permitted to renounce any portion of their Rights Entitlements.

For eligible equity shareholders holding shares in physical form as of the record date, or whose demat account details are unavailable, Rights Entitlements have been credited to a Demat Suspense Account. Such shareholders are advised to furnish their demat account details to the Registrar or the company at least two clear working days prior to the issue closing date (i.e., by July 30, 2025) to enable the transfer of REs to their active demat accounts. Failure to provide these details by the stipulated time will result in the lapsing and extinguishment of the Rights Entitlements, with no claim against the company. It is crucial for investors to understand that Rights Entitlements that are neither renounced nor subscribed by the issue closing date will lapse and be extinguished.

Regulatory Compliance and Disclaimers

In compliance with Regulation 84(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Exicom Tele-Systems Limited published newspaper advertisements regarding the Rights Issue on Thursday, July 10, 2025. These advertisements appeared in national dailies such as Business Standard (English and Hindi), and the regional daily Janpath, Solan (Hindi), which circulates at the company's registered office location. The company has also uploaded this intimation on its official website, www.exicom.in.

The company has clarified that the Rights Entitlements and the Rights Equity Shares have not been, and will not be, registered under the U.S. Securities Act and are not being offered or sold within the United States, except pursuant to an exemption from registration. The offering is primarily for eligible equity shareholders who have provided an Indian address to the company. The distribution of the Letter of Offer and other issue materials is restricted in certain jurisdictions outside India, and persons in such jurisdictions, including the United States, must not seek to subscribe to the Rights Equity Shares.

Registrar and Other Advisors

MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is serving as the Registrar to the Issue. HDFC Bank Limited has been appointed as the Bankers to the Issue and Refund Banker, while CARE Ratings Limited is the Monitoring Agency. Investors can access the Letter of Offer and application form from the websites of the company (www.exicom.in), the Registrar (www.in.mpms.mufg.com), and the stock exchanges (www.bseindia.com and www.nseindia.com). For any pre-issue or post-issue related matters, investors may contact the Registrar or the Company Secretary and Compliance Officer, Sangeeta Karnatak, at investors@exicom.in or Tel: +91 124 6615 200. Grievances related to the ASBA process can be addressed to the Registrar with a copy to the SCSB.