DCX Systems Sets IPO Price Band At Rs 197-207 Per Share
The DCX Systems IPO opens for subscription on Oct. 31 and conclude on Nov. 2.
DCX Systems, a manufacturer of cables and wire harness assemblies, has set a price band of Rs 197-207 per share for its Rs 500-crore IPO.
The initial public offering will open on Oct. 31 and conclude on Nov. 2.
The company has cut the size of its fresh issue of equity shares to Rs 400 crore from Rs 500 crore planned earlier. The IPO includes an offer for sale, which will see promoters NCBG Holdings Inc. and VNG Technology offload stock worth Rs 100 crore.
The lot size is set at 72 shares and multiples thereof.
DCX Systems proposes to utilise the proceeds of the initial share sale to repay debt, fund working-capital requirements, invest in wholly-owned subsidiary Raneal Advanced Systems, capex and general corporate purposes.
According to the company, 75% of the IPO has been reserved for qualified institutional investors, 15% for non-institutional investors and remaining 10% for retail investors.
Bengaluru-based DCX Systems is primarily engaged in system integration and manufacturing an array of cables and wire harness assemblies, and is also involved in kitting.
Its revenue from operations grew at a compounded annual growth rate of 56.64%--from Rs 449 crore in fiscal 2020 to Rs 1,102 crore in fiscal 2022. The order book increased from Rs 1,941 crore as on March 31, 2020, to Rs 2,369 crore as on March 31, 2022.
Edelweiss Financial Services, Axis Capital and Saffron Capital Advisors are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and the National Stock Exchange.