EXICOM TELE-SYSTEMS LIMITED INTIAL PUBLIC OFFER TO OPEN ON FEBRUARY 27, 2024

National, February 23, 2024: Exicom Tele-Systems Limited (“ETSL” or The “Company”), shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Tuesday, 27^th February, 2024.

The Total Offer Size comprises of fresh issue of Equity Shares aggregating up to ₹ 3,290 million [₹ 329 crore] (The “Fresh Issue”) and Offer for Sale up to 7,042,200 Equity Shares. (The “Offer for Sale”), (Together, “The Total Issue Size”)

The Price Band of the Offer has been fixed at ₹ 135 to ₹ 142 Per Equity Share. Bids can be made for a minimum of 100 Equity Shares and in multiples of 100 Equity Shares thereafter. (The “Price Band”)

The Anchor Investor Bidding Date shall be Monday, 26^th January, 2024. The Bid/Offer will open Tuesday, 27^th February, 2024 for subscription and close on Thursday, 29^th February, 2024. (The “Bid / Offer Period”)

The Company proposes to utilize net proceeds from fresh issue of Equity Shares towards funding – (i) Part-financing the cost towards setting up of production/assembly lines at the planned manufacturing facility in Telangana amounting to ₹ 1457.72 million [₹ 145.72 crore]; (ii) Repayment/pre-payment, in part or full of certain borrowings of our Company amounting to ₹ 502.98 million [₹ 50.29 crore] ; (iii) Part-funding incremental working capital requirements amounting to ₹ 690 million [₹ 69 crore]; (iv) Investment in R&D and product development amounting to ₹ 400 million [₹ 40 crore]; and (v) balance amount for general corporate purposes. (The “Objects of the Offer”)

The Offer for Sale comprises of up to 7,042,200 Equity Shares by NextWave Communications Private Limited. (The “Promoter Selling Shareholder”)

The Equity Shares offered through this Red Herring Prospectus of the Company dated February 20, 2024 filed with Registrar of Companies, Himachal Pradesh at Chandigarh (the “RHP”) and are proposed to be listed on the Stock Exchanges being BSE Limited and National Stock Exchange of India Limited.

For the purposes of the Offer, National Stock Exchange of India Limited is the Designated Stock Exchange.

The Offer is being made in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(2) of SEBI ICDR Regulations, wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB Portion”), provided that our Company and the Promoter Selling Shareholder may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation will be on a discretionary basis, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for the domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”) in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) (the “Net QIB Portion”).

Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Investors (“Non-Institutional Portion”) (out of which one-third of the portion available to Non-Institutional Investors will be available for allocation to Bidders with an application size of more than ₹ 200,000 and up to ₹ 1,000,000 and two-thirds of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than ₹ 1,000,000 and under-subscription in either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion) and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Investors (“Retail Portion”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.

All Bidders (except Anchor Investors) shall mandatorily participate in the Offer only through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID for UPI Bidders using UPI Mechanism) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Bank. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. See ‘Offer Procedure’ beginning on page 434

Monarch Networth Capital Limited, Unistone Capital Private Limited and Systematix Corporate Services Limited are the Book Running Lead Managers to the Issue.

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.