Exicom shares rallied 15% after the company announced key financial decisions following its board meeting on June 25, 2025. As of 1:56 PM, the shares were trading 14.29% higher at Rs 207.99.
The board approved raising up to ₹260 crore through a rights issue of equity shares. This offer will be extended to existing shareholders, with the exact terms—including issue price, entitlement ratio, record date, and payment structure—to be finalized by a newly formed Rights Issue Committee.
In another move, the board cleared the conversion of an unsecured loan of approximately ₹283.20 crore (including interest) into equity shares of its wholly owned subsidiary, Exicom Power Solutions B.V., based in the Netherlands. The subsidiary operates in the electric vehicle segment.
The conversion will take place in tranches and is subject to regulatory approvals under the Foreign Exchange Management Act (FEMA). Shares will be issued at a par value of €1 each. The transaction will not require fresh cash outflows and is aimed at improving liquidity and reducing interest burden at the subsidiary level.
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