SAM teams counsel on Exicom’s USD51.73m debut listing

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Shardul Amarchand advises Exicom Tele-Systems
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Shardul Amarchand Mangaldas & Co (SAM) has counselled parties involved in the INR4.29 billion (USD51.73 million) Exicom Tele-Systems debut listing, marking the first IPO of an Indian EV charging infrastructure player on the NSE and BSE.

SAM was the exclusive Indian legal counsel for the IPO, representing Exicom Tele-Systems, the promoter and selling shareholder NextWave Communications, and the book running lead managers Monarch Networth Capital, Unistone Capital and Systematix Corporate Services.

The IPO team comprised partner and national practice head of capital markets Prashant Gupta, partner Abhiroop Amitava Datta, senior associate Sanjana Chowdhry as well as associates Anjanesh Vatsa, Jayant Saxena and Jheel Bhargava.

The firm also assisted the company’s pre-IPO placement, with partners Arvind Sharma and Ananda Malhotra leading the team, with help from associates Ishani Chopra, Aditya Sinha and Aritro Gon.

The IPO received overwhelming subscription rates across all categories of buyers, with an overall subscription of more than 79 times. Notably, retail subscriptions reached more than 127 times.

The non-institutional category recorded subscriptions of more than 152 times and 165 times for investors with amounts up to INR100,000 and above INR100,000, respectively. Additionally, qualified institutional buyers saw subscriptions of more than 124 times.

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