Report Wire

Tag: DCX Systems IPO gmp

  • DCX Systems makes a robust debut, lists 38% greater from subject value

    DCX Systems IPO Listing, DCX Systems IPO Share Price Today: Shares of cables and wire harness assemblies maker DCX Systems made a robust debut on Friday, getting listed at a premium of over 38 per cent from their subject value on the inventory exchanges.

    The inventory acquired listed at Rs 287.00 apiece on the National Stock Exchange (NSE), thereby registering a acquire of 38.65 per cent from its provide value of Rs 207.00, whereas on the BSE, it opened at Rs 286.25, up 38.29 per cent from the problem value.

    Within the primary couple of minutes of itemizing, the DCX Systems inventory inched greater from its itemizing stage. During the primary 10 minutes of commerce, the shares hit a low of Rs 286.25 on the BSE and Rs 287.00 on the BSE and a excessive of Rs 299.00 on the BSE and Rs 297.00 on the NSE.

    At 10:10 am, the scrip was buying and selling at Rs 290.70 on the BSE, up 40.43 per cent from the problem value whereas on NSE it was at Rs 290.95, up 40.56 per cent. The market capitalisation stood at Rs 2,809.82 crore, knowledge from the BSE confirmed.

    Over 1.22 crore shares of DCX Systems had been traded to date on NSE whereas round 7.82 lakh shares have exchanged fingers on the BSE, knowledge from the respective inventory alternate confirmed.

    DCX Systems is engaged within the manufacturing of digital sub-systems and cable harnesses within the defence and aerospace sector. It commenced operations in 2011 and has been a most well-liked Indian Offset Partner for international authentic tools producers for executing aerospace and defence manufacturing initiatives. As of June 30, 2022, it had 26 clients in Israel, the United States, Korea and India.

    Commenting on the itemizing, Pravesh Gour, Senior Technical Analyst at Swastika Investmart, stated, “The company’s strong listing can be attributed to unexciting investor subscription levels. As the company has been able to create long-term and deeply entrenched relationships with its clients due to its execution capability in terms of time and cost, ability to maintain confidentiality, and experienced management team. Nevertheless, there are concerns with the company like high dependence on key customers, the majority of the revenue from low margin built to print offset defense contracts, the regulated nature of the industry, high debt to equity, and high working capital requirements. Therefore, we advise investors to lock in listing gains and only aggressive investors should consider making a long-term commitment to the company. Those who applied for listing gains can maintain a stop loss of Rs 245.”

    Speaking to indianexpress.com, Ravi Singh, vp and head of analysis at Share India Securities stated that buyers who’re on the lookout for itemizing features ought to guide earnings at 50 per cent of their place maintaining a cease loss on the base IPO value of Rs 207 and a goal of Rs 350.

  • DCX Systems IPO: Issue subscribed 69.79 occasions on closing day led by QIBs and retail buyers

    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).