Exicom Tele-Systems Limited has informed the Exchange about outcome of Board Meeting held on June 25, 2025
EXICOM · price
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On the reaction day the stock moved 9.6 pts more than Nifty Microcap 250 and 10.5 pts more than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Exicom Tele-Systems' board approved a Rights Issue of equity shares (face value ₹10) for an aggregate amount not exceeding ₹260 crores, to be offered to existing eligible shareholders. The issue price, entitlement ratio, and record date will be decided later by a newly formed Rights Issue Committee headed by three directors. Separately, the board approved converting an unsecured loan of approximately ₹283.20 crores (including accrued interest) given to its Dutch wholly owned subsidiary, Exicom Power Solutions B.V., into ordinary equity shares at par value of €1 per share. The subsidiary, incorporated in January 2024 and operating in the EV sector, reported a loss of about ₹163.86 crores on a turnover of just ₹2.55 lakhs in FY25. The conversion is aimed at reducing interest cash outflows and easing the subsidiary's working capital pressure, with no fresh cash infusion from the parent.
Existing shareholders may face dilution once the rights issue is launched, though pricing and ratio are still to be decided. The loan-to-equity conversion signals stress in the loss-making EV subsidiary and pushes the risk onto the parent's books, while freeing up cash that would otherwise go to interest payments.