The initial public offering (IPO) of DCX Systems, a manufacturer of cables and wire harness assemblies, will open for public subscription next week on Monday, October 31, 2022. The company has cut the size of its fresh issue of equity shares to Rs 400 crore from Rs 500 crore planned earlier. Apart from the fresh issue, the IPO comprises an offer for sale (OFS) of equity shares to the tune of up to Rs 100 crore by promoters, NCBG Holdings Inc and VNG Technology.
DCX Systems IPO: Subscription
The Rs 500 crore initial public offering (IPO) of DCX Systems will close for subscription on Wednesday, November 2, 2022.
DCX Systems IPO: Price Band
The price band for DCX Systems IPO has been fixed at Rs 197-207 per share.
DCX Systems IPO: Issue Size
The IPO consists of issuance of fresh equity shares worth Rs 400 with a face value of Rs 2 each. Existing promoters and shareholders will sell shares worth Rs 100 crore via an offer for sale (OFS).
DCX Systems IPO: Lot Size
Investors can subscribe to the DCX Systems IPO by betting for a lot of 72 shares or in multiples thereof. At the upper range of the price band, one lot of the IPO is worth Rs 14,904. A retail bidder can bid for 13 lots or 936 shares at maximum.
DCX Systems IPO: Participating Shareholders
NCBG Holdings and VNG Technology are the promoters of the company. The entities will be offloading their stake through the offer for sale.
DCX Systems IPO: Objective
The company proposes to utilise the net proceeds from the fresh issue towards debt payment, funding working capital requirements, investment in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure expenses and general corporate purposes.
Edelweiss Financial Services, Axis Capital and Saffron Capital Advisors are the book running lead managers to the issue. Link Intime India Private Ltd is the registrar of the share sale.
DCX Systems IPO: GMP Today
As per market observers, DCX Systems shares are commanding a premium (GMP) of Rs 88 in the grey market today.
DCX Systems IPO: Allotment Date
The finalization of the basis of allotment is likely by November 7 and the initialisation of refunds is likely by November 9, 2022. Meanwhile, credit of shares in the demat account is likely by November 10.
DCX Systems IPO: Listing Date
The shares of the company are expected to list on stock exchanges BSE and NSE on Friday, November 11, 2022.
DCX Systems IPO: Financials
DCX Systems’ revenue from operations grew at a CAGR of 56.64 per cent from Rs 449 crore in fiscal 2020 to Rs 1,102 crore in fiscal 2022. The company’s order book has increased from Rs 1,941 crore as of March 31, 2020 to Rs 2,369 crore, as of March 31, 2022.
DCX Systems IPO: About the Company
DCX Systems Ltd, the Bengaluru-based company, is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies, and are also involved in kitting.
As of June 30, 2022, DCX Systems had 26 customers in Israel, the United States, Korea and India, including certain Fortune 500 companies, multinational corporations and start-ups. The company’s customers include domestic and international OEMs, private companies and public sector undertakings in India across different sectors, ranging from defence and aerospace to space ventures and railways.
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