Small-cap powerhouse's big bet: Acquiring EV charging leader to drive global expansion
After debuting with an impressive 87 per cent premium over its offer price, shares are currently trading around 25 percent below their 52-week high.
After hitting back-to-back lower circuits in recent trading sessions, shares of Exicom Tele-systems Ltd, India's leading manufacturer of electric vehicle chargers, witnessed renewed buying interest and gained around 4 per cent. This surge followed the company's significant announcement, which made headlines.
The company revealed that its subsidiary, Exicom Power Solutions B.V. Netherlands, along with other step-down subsidiaries, has entered into a definitive agreement to acquire the business and assets of Tritium Group of Companies. Tritium, a renowned global leader in DC fast chargers, is headquartered in Australia.
The acquisition is considered a strategic move towards establishing a global EV charger business. Exicom will benefit from Tritium’s presence in 47 countries, gaining access to its state-of-the-art manufacturing facility in the USA and its world-class engineering centre in Australia. The agreement of Exicom and Tritium, with their complementary product portfolios, offers a unique opportunity to cater to diverse use cases globally, thereby accelerating the adoption of EV infrastructure.
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Exicom Tele-systems Ltd stands out as a leading player in power management solutions, specializing in advanced EV charging and energy storage systems. Their portfolio includes a range of smart AC and DC fast chargers designed to meet the needs of various drivers and vehicles. In addition, Exicom offers robust energy management solutions tailored for telecommunications and industrial sectors.
The company was listed in March 2024, debuting on the exchanges with an outstanding 87 per cent premium over its offer price of Rs 142. Currently, the shares are trading about 25 per cent below their 52-week high of Rs 530 per share on the BSE.
Disclaimer: The article is for informational purposes only and not investment advice.