The board constituted a rights issue committee comprising Himanshu Baid, Anant Nahata, and Vivekanand Kumar to oversee the fundraising process.

Additionally, the board approved the conversion of an unsecured loan of approximately Rs 283.20 crore, including accrued interest, into equity shares of its wholly owned subsidiary, Exicom Power Solutions B.V., Netherlands. The move is intended to reduce interest outflows, ease working capital pressure, and enhance liquidity at the subsidiary, which operates in the EV sector.

The conversion will be executed in tranches and complies with applicable laws, including the Foreign Exchange Management Act. There is no fresh cash outflow, as the transaction involves a reclassification of an existing loan into equity.

Exicom Power Solutions B.V., incorporated in January 2024, is engaged in the wholesale of electronic and communication equipment. The Dutch entity reported a turnover of Rs 2.55 lakh and a loss of Rs 16.38 crore for FY25, according to company disclosures.

Exicom Tele-Systems is one of India's leading EV charging and critical power solutions manufacturer, present across the entire EV charger value chain with a host of products across both AC and DC charger segments.

On a consolidated basis, Exicom Tele-Systems reported net loss of Rs 62.28 crore in Q4 March 2025 as against net profit of Rs 27.47 crore in Q4 March 2024. Net sales declined 11.76% year-on-year to Rs 265.52 crore in Q4 March 2025.