The Gurugram-headquartered EV charger manufacturer Exicom Tele-Systems raised ₹429 crore through its public issue, which comprised a fresh equity of ₹329 crore and an offer-for-sale (OFS) of 70.42 lakh shares worth ₹100 crore by existing shareholders. The issue received overwhelming response from investors as it was booked 129.54 times. The quota reserved for high net worth individuals were subscribed 153.22 times, followed by 121.80 times in 119.58 times in qualified institutional buyers (QIOB) portion and 121.80 times in retail investors. The company had fixed issue price at ₹135-₹142 per share, and the lot size was 100 shares and thereafter.

Established in 1994, Exicom Tele-Systems is engaged in power systems, electric vehicle (EV) charging, and other related solutions. The company offers both slow charging solutions (primarily AC chargers for residential use) and fast charging solutions (DC chargers for business and public charging networks in cities and highways) and has deployed more than 70,000 AC and DC chargers across India and Southeast Asia.

Meanwhile, the ₹235.32 crore IPO of Platinum Industries was subscribed 98.71 times. The quota for QIB was booked 151 times, while portions set aside for NIIs and retail were subscribed 141.68 times and 50.41 times, respectively. The price band for the IPO was ₹162 to ₹171 per share and the lot size for an application was 87 shares.

Platinum Industries is a multi-product company engaged in the business of manufacturing stabilisers, CPVC additives, and lubricants. The capital raised from the IPO will be used for investment in the subsidiary, Platinum Stabilisers Egypt LLC; for financing its capital expenditure requirements for setting up of a manufacturing facility for PVC Stabilisers at SC Zone 'Governorate of Suez Egypt'. A part of the fund will be also used for setting up of a manufacturing facility for PVC Stabilisers at Palghar, Maharashtra; meet working capital requirements and general corporate purposes.

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Platinum Industries shares

Exicom Tele-Systems ends 61% higher on Day 1; Platinum Ind gains 30% on debut