DCX Systems units IPO value band at Rs 197-207/share

DCX Systems, a producer of cables and wire harness assemblies, on Friday introduced a value band of Rs 197 to Rs 207 per share for its Rs 500-crore preliminary public providing (IPO).

The preliminary share-sale will open for public subscription on October 31 and conclude on November 2, the corporate stated.

The firm has lower the dimensions of its recent concern of fairness shares to Rs 400 crore from Rs 500 crore deliberate earlier.

Apart from the recent concern, the IPO contains an offer-for-sale of fairness shares to the tune of as much as Rs 100 crore by promoters — NCBG Holdings Inc and VNG Technology.

The firm proposes to utilise the web proceeds from the recent concern in the direction of debt fee, funding working capital necessities, funding in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure bills and common company functions.

According to the corporate, 75 per cent of the difficulty measurement has been reserved for certified institutional traders, 15 per cent for non-institutional traders and the remaining 10 per cent for retail traders.

Investors can bid for no less than 72 fairness shares and in multiples of 72 fairness shares thereafter.

The Bengaluru-based firm is primarily engaged in system integration and manufacturing a complete array of cables and wire harness assemblies, and are additionally concerned in kitting.

DCX Systems’ income 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 firm’s order ebook has elevated from Rs 1,941 crore as of March 31, 2020 to Rs 2,369 crore, as of March 31, 2022.

Edelweiss Financial Services, Axis Capital and Saffron Capital Advisors are the ebook working lead managers to the difficulty. The fairness shares are proposed to be listed on each the bourses, BSE and NSE.