Exicom TeleSystems Establishes Tritium Power Solutions Inc. in Delaware

Exicom Power Solutions B.V., a wholly-owned subsidiary of Exicom Tele-Systems Limited, has established a new wholly-owned subsidiary named Tritium Power Solutions Inc. in Delaware, USA. It has a share capital of 1,50,00,000 shares, each valued at $1.

As a result, Tritium Power Solutions Inc. is now a step-down wholly-owned subsidiary of Exicom Tele-Systems Limited. The holding company of Tritium Power Solutions Inc. is Exicom Power Solutions B.V., based in the Netherlands.

Objective of the Acquisition

The primary activities of Tritium Power Solutions Inc. will include trading Electric Vehicle Charging Stations & Systems and Spare Parts, Solar Energy Systems & Components, and Batteries. Additionally, the company will focus on repairing and maintaining primary and storage batteries and trading Telecommunication Equipment. These activities will support the growth and diversification of Exicom Tele-Systems Limited in emerging markets.

Acquisition Details

Related Party Transactions

This incorporation does not constitute a related party transaction. However, Tritium Power Solutions Inc. becomes a related party of the Company following its incorporation. The promoter/promoter group/group companies have no interest in this transaction.

Industry Focus

Tritium Power Solutions Inc. will operate within the Electric Vehicle Supply Equipment (EVSE) and Telecom industry. This aligns with the strategic objectives of Exicom Tele-Systems Limited to expand its footprint in these sectors.

Consideration

Tritium Power Solutions Inc. was incorporated with cash consideration provided by Exicom Power Solutions B.V., a wholly-owned subsidiary of Exicom Tele-Systems Limited. Exicom Power Solutions B.V. will subscribe to an initial total of 15,000,000 shares of Tritium Power Solutions Inc., each valued at $1.

Shareholding and Control

Exicom Power Solutions B.V., a wholly-owned subsidiary of Exicom Tele-Systems Limited, will acquire 100% of the shares in Tritium Power Solutions Inc.

About Exicom TeleSystems Limited

Headquartered in India, Exicom TeleSystems operates in two main business areas: (i) Electric Vehicle (EV) Chargers Solutions, providing advanced smart charging systems for residential, commercial, and public use in India, and (ii) Critical Power Solutions, focusing on the design, manufacture, and service of critical digital infrastructure technology for energy management at telecommunications sites and enterprise environments both in India and internationally.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.