Know Latest GMP, IPO Details; Should you Subscribe?

DCX Systems IPO Opens on Monday: Bengaluru-based DCX Systems — a maker of cables and wire harness assemblies — is all set to roll out an IPO on Monday, October 31 to raise up to Rs 500 crore. The initial share sale, comprising fresh issuance of shares worth to Rs 400 crore and an offer for sale (OFS) of up to Rs 100 crore by existing shareholders, will be available for bidding for three trading days ending November 2.

DCX Systems IPO: Price Band

The price band for DCX Systems IPO has been fixed at Rs 197-207 per share. At least 75 per cent of the IPO is reserved for qualified institutional investors, up to 15 per cent for high-net-worth individuals, and 10 per cent for retail investors.

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.

DCX Systems IPO: GMP Today

As per market observers, DCX Systems shares are commanding a premium (GMP) of Rs 80 in the grey market today.

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.

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.

Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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