The three-day initial public offering (IPO) of DCX Systems, a manufacturer of cable and wire harness assemblies, will open for public subscription next week on Monday, October 31, 2022, and end on Wednesday, November 2, 2022. The company fixed a price band of since 197 207 per share for its initial share sale. Investors can bid for a minimum of 72 equity shares and thereafter in multiples of 72 equity shares.
The company has cut the size of its fresh issue of equity shares from 400 crores 500 crores was planned earlier, news agency told PTI, In addition to the latest issue, IPO includes an offer for sale (OFS) of equity shares of up to 100 crore by the promoters, NCBG Holdings Inc and VNG Technology.
According to market observers, DCX Systems shares are earning a premium (GMP) Today in Gray Market 40. The Company’s Shares are expected to be listed on the Stock Exchanges BSE and NSE on Friday, November 11, 2022. The finalization of the share allotment of the issue is expected on Monday, November 7, 2022.
The Company has utilized the net proceeds from the fresh issue for repayment/prepayment of certain borrowings taken by the Company, financing working capital requirements, funding its capital expenditure expenditure in its wholly owned subsidiary, Ranial Advanced Systems Private Limited. has been proposed. and general corporate purposes.
DCX Systems Limited, a Bengaluru based company, is primarily engaged in System Integration and manufacturing of a wide range of Cable & Wire Harness Assemblies, and is also involved in Kiting.
The company had filed a draft red herring prospectus (DRHP) with capital markets regulator SEBI in April this year to raise funds through the IPO.
Edelweiss Financial Services, Axis Capital and Kesar Capital Advisors are the book running lead managers of the issue. LINK INTIME INDIA PRIVATE LIMITED is the registrar of share sale. 75% of the issue size is reserved for eligible institutional investors (QIBs), 15% for non-institutional investors (NIIs) and the remaining 10% for retail investors.
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