Exicom Tele-Systems drops 5% after Rare Enterprise sells 1.5 mn shares

Exicom Telecoms in focus: Shares of Exicom Tele-Systems (Exicom) fell as much as 4.98 per cent to hit an intraday low of Rs 362 per share on Wednesday, September 4, 2024. 

The fall in the Exicom Telecoms share price came after Late Rakesh Jhunjhunwla-backed entity Rare Enterprises offloaded 15,85,000 shares of Exicom Telecoms at Rs 348.60 per share.

Debut on boursesExicom Tele-Systems (Exicom) made a healthy stock market debut with its shares listing 85 per cent higher at Rs 270.30 against its issue price of Rs 142 per share on the BSE on March 5, 2024. The stock was listed at Rs 270 on the National Stock Exchange (NSE). 

Following its listing, the stock moved higher to Rs 274.30, a premium of 93 per cent over the issue price. 

Founded in 1994, Exicom Tele-Systems Limited is a leading provider of power systems and electric vehicle (EV) charging solutions, operating through two main business verticals. 

In the Power Systems sector, Exicom delivers reliable power solutions essential for digital communication networks. In the EV Charging Solutions vertical, the company has installed over 61,000 AC and DC chargers across India and Southeast Asia, offering durable solutions designed to perform under challenging environmental and electrical conditions. 

The company serves a diverse customer base, including major automotive OEMs for passenger cars and EV buses, charge point operators (CPOs), and fleet aggregators. By September 30, 2023, Exicom had installed its chargers at over 400 locations in India and deployed 470,810 Li-ion batteries in telecommunications applications, equivalent to a storage capacity of over 2.10 GWH. 

The company has provided EV chargers to more than 70 customers, including 15 automotive OEMs, 32 national and regional CPOs, and four fleet aggregators. 

With a workforce of 1,190 employees in India, including 443 contractual staff, and 50 additional employees at its subsidiaries, Exicom employs 732 technically qualified individuals, comprising 438 with diplomas and 294 with engineering degrees.

The market capitalisation of Exicom Tele-Systems (Exicom) is Rs 4,446.34 crore, according to Bombay Stock Exchange (BSE). The stock falls under the BSE IPO category.

At 10:52 AM, shares of Exicom Tele-Systems were trading 3.41 per cent lower at Rs 368 per share. In comparison, BSE Sensex was trading 0.59 per cent lower at 82,072.21 levels.