Oct 31, 2022
By: Bhakti MakwanaThe IPO of Bengaluru-based manufacturer of electronic sub-systems and cable harnesses is all set to open from October 31 and close on November 2. The price band of the IPO is ₹197-207 per share.
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DCX Systems plans to raise ₹400 crore through fresh issue of shares, along with an offer for sale of ₹100 crore by promoters and existing shareholders.
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The company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies; and kitting.
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The company has 26 customers in Israel, US, Korea and India, including Fortune 500 companies, MNCs and start-ups. It has clients across sectors ranging from defense to aerospace, to space ventures and railways.
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A significant portion of the company’s revenues are in US dollars due to exports. The rupee has depreciated significantly against the Dollar in the last one year.
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IPO proceeds will be utilised towards debt repayment, funding working capital, investment in its subsidiary and general corporate purposes.
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The grey market premium (GMP) of the company’s shares stood at ₹80 per share earlier. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges.
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Bharat Electronics, Data Patterns (India), Paras Defence and Space Technologies, Astra Microwave Product and Centum Electronics are some of DCX’s listed peers.
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The company’s shares are scheduled to be allotted on November 7.
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DCX Systems will be listed on BSE and NSE on November 11.
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