Exicom Tele-Systems Limited has announced an extension of the timeline for utilizing a portion of its unutilized IPO proceeds, with the Board of Directors approving the extension through a circular resolution passed on March 26, 2026. The company has extended the utilization timeline for Research & Development funds up to September 30, 2026.

IPO Proceeds Utilization Status

The company had originally proposed to utilize ₹400 crores from the IPO proceeds towards specified objects as disclosed in the Offer Documents. The current utilization status shows significant progress in fund deployment across various activities.

Extension Details and Timeline

The Board has specifically approved the extension for ₹8.83 crores that remains unutilized towards Research & Development activities. This amount will now have an extended timeline for utilization up to September 30, 2026. The company has clarified that an amount of approximately ₹0.64 crores pertaining to offer-related expenses is proposed to be fully utilized on or before March 31, 2026, towards general corporate purposes, and no extension of timeline is being sought for this portion.

Reasons for Extension

The extension in timeline for R&D utilization is primarily attributed to delays in research and product development activities. These delays have arisen due to dependencies on external collaborations and EV product rollout timelines. The company emphasized that there is no change in the objects of the issue as stated in the Offer Documents, and the present approval pertains solely to the extension of timeline for deployment of the remaining R&D funds.

Compliance and Fund Management

Exicom Tele-Systems has maintained the unutilized IPO proceeds in compliance with applicable provisions of the Companies Act, 2013 and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The funds are currently invested in permitted interest-bearing instruments pending their utilization. The disclosure has been made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding the fund utilization timeline adjustments.

Exicom Tele-Systems has officially inaugurated its integrated manufacturing facility in Hyderabad, Telangana on March 16, 2026. The company made this disclosure under Regulation 30 of SEBI Listing Regulations, marking a significant milestone in its manufacturing expansion strategy with a substantial investment of INR 216 crores.

Major Manufacturing Investment

The new facility represents a strategic expansion of the company's manufacturing capabilities, designed to meet the rapidly growing demand for EV charging infrastructure and critical power solutions across Indian and export markets. The inauguration event was attended by prominent industry leaders from the telecom and EV sectors.

Advanced Manufacturing Capabilities

The Hyderabad facility has been designed around Industry 4.0 manufacturing principles, integrating advanced automation, robotics, and digital traceability for precision manufacturing at scale. The plant features an ISO 8 cleanroom environment and high-precision processes for advanced power electronics manufacturing.

Comprehensive Product Portfolio

The facility is equipped to manufacture and assemble a comprehensive range of products across multiple technology segments, supporting the company's diverse business verticals in electric vehicle infrastructure and power electronics.

Sustainability and Environmental Focus

Sustainability has been embedded into the design and operations of the facility. The campus features 40% green cover, a 1 MW rooftop solar plant that offsets a significant portion of energy consumption, rainwater harvesting infrastructure, and a dedicated sewage treatment plant for responsible water management.

Commenting on the development, Anant Nahata, CEO and MD of Exicom, stated that the facility reflects precision manufacturing, advanced automation, rigorous testing and complete product traceability to ensure every product meets the highest standards of quality and reliability. The facility is strategically positioned to strengthen India's power electronics manufacturing base and support the company's expansion across domestic and international markets.