Regulatory10 Aug 2026, 06:34 pm
Exicom Tele-Systems Utilizes Entire IPO/Pre-IPO Proceeds
AI Summary
Exicom Tele-Systems Ltd has submitted a statement confirming nil deviation or variation in the utilization of its Initial Public Offer (IPO) and Pre-IPO placement proceeds for the quarter ended June 30, 2026. The company has fully utilized the entire ₹400 crore raised. Consequently, no further statements regarding deviation or variation will be required. The utilization included part financing for production/assembly lines, repayment of borrowings, working capital, R&D, and general corporate purposes. The statement was reviewed and approved by the Audit Committee.
Key Highlights
- Exicom Tele-Systems fully utilized its IPO and Pre-IPO proceeds of ₹400 crore.
- No deviation or variation reported in fund utilization for the quarter ended June 30, 2026.
- Funds were allocated to production lines, debt repayment, working capital, R&D, and corporate purposes.
- No further deviation statements will be required henceforth.
- Audit Committee reviewed and approved the utilization statement.
Price Impact
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