DCX Systems IPO: The preliminary public providing (IPO) of cables and wire harness assemblies producer DCX Systems, which bought absolutely subscribed inside hours of opening earlier this week, was subscribed 69.79 occasions on the ultimate day, in line with the info accessible on the BSE.
The Rs 500 crore provide acquired bids for over 101.27 crore (1,01,27,44,152) shares in opposition to the problem dimension of over 1.45 crore (1,45,11,146) shares, the info confirmed.
The shares that are to be allotted for the certified institutional patrons (QIBs) was subscribed 84.32 occasions, whereas the portion for non institutional buyers was subscribed 43.97 occasions and that of retail particular person buyers (RIIs) was subscribed 61.77 occasions, the info confirmed.
The DCX Systems IPO contains a recent problem of fairness shares price Rs 400 crore and a suggestion on the market (OFS) of fairness shares as much as Rs 100 crore by promoters NCBG Holdings Inc and VNG Technology.
The web proceeds from the recent problem shall be used for reimbursement/prepayment of sure borrowings, funding working capital necessities, funding in wholly owned subsidiary, Raneal Advanced Systems Private Limited, to fund its capital expenditure bills and for normal company functions.
The 3-day IPO opened for subscription on Monday, October 31, 2022, and concluded at 5 pm right this moment. It has a value band of Rs 197-207 per share.
Ahead of the IPO, DCX Systems raised practically Rs 225 crore (Rs 2,24,99,99,748) from 12 anchor buyers.
DCX Systems is engaged in manufacturing of digital sub-systems and cable harnesses within the defence and aerospace sector. It commenced operations in 2011 and has been a most popular Indian Offset Partner for overseas authentic tools producers for executing aerospace and defence manufacturing initiatives. As of June 30, 2022, it had 26 prospects in Israel, United States, Korea and India.
Going forward, buyers will now sit up for the share allotment date of the problem. The finalisation of the idea of allotment for DCX Systems is predicted to happen on Monday, November 7, 2022, as per the knowledge supplied within the purple herring prospectus (RHP).