Exicom Tele-Systems Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Exicom Tele-Systems has submitted a quarterly compliance report confirming nil deviation or variation in the use of funds raised through its IPO and Rights Issue for the quarter ended December 31, 2025. The company raised Rs. 400 crore through its IPO and Pre-IPO placement (Feb 2024), of which Rs. 381.34 crore has been utilized so far, with Rs. 22.06 crore of the Rs. 40 crore earmarked for R&D and product development still unspent. Additionally, Rs. 259.41 crore was raised through a Rights Issue in July 2025, of which Rs. 259.24 crore has already been deployed, including Rs. 85 crore for the Tritium business and Rs. 161.87 crore for loan repayments. The statement was reviewed and approved by the Audit Committee, and CARE Ratings Limited acted as the monitoring agency for both fund raises.
This is a routine compliance filing confirming that the company has used its IPO and Rights Issue proceeds in line with the originally stated purposes, which should reassure shareholders about disciplined capital allocation. The partial deployment of R&D funds (Rs. 22.06 crore out of Rs. 40 crore utilized) is the only notable lag, but with no deviations declared, there is no negative implication for the stock.