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DCX Systems Limited IPO (DCX Systems IPO) Detail

October 31, 2022 - November 2, 2022

DCX Systems IPO is a book built issue of Rs 500.00 crores. The issue is a combination of fresh issue of Rs 400.00 crores and offer for sale of Rs 100.00 crores.

DCX Systems IPO bidding started from October 31, 2022 and ended on November 2, 2022. The allotment for DCX Systems IPO was finalized on Monday, November 7, 2022. The shares got listed on BSE, NSE on November 11, 2022.

DCX Systems IPO price band is set at ₹197 to ₹207 per share. The minimum lot size for an application is 72 Shares. The minimum amount of investment required by retail investors is ₹14,904. The minimum lot size investment for sNII is 14 lots (1,008 shares), amounting to ₹208,656, and for bNII, it is 68 lots (4,896 shares), amounting to ₹1,013,472.

Edelweiss Financial Services Ltd, Axis Capital Limited and Saffron Capital Advisors Private Limited are the book running lead managers of the DCX Systems IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to DCX Systems IPO RHP for detailed information.

DCX Systems IPO Details

IPO Date October 31, 2022 to November 2, 2022
Listing Date November 11, 2022
Face Value ₹2 per share
Price Band ₹197 to ₹207 per share
Lot Size 72 Shares
Total Issue Size[.] shares
(aggregating up to ₹500.00 Cr)
Fresh Issue[.] shares
(aggregating up to ₹400.00 Cr)
Offer for Sale[.] shares of ₹2
(aggregating up to ₹100.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

DCX Systems IPO Reservation

DCX Systems IPO offers 14,511,146 shares. 8,165,969 (56.27%) to QIB, 3,807,106 (26.24%) to NII, 2,538,071 (17.49%) to RII. 35,250 RIIs will receive minimum 72 shares and 1,258 (sNII) and 2,517 (bNII) will receive minimum 1,008 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered8,165,969 (56.27%)NA
NII (HNI) Shares Offered3,807,106 (26.24%)
  bNII > ₹10L2,538,070 (17.49%)2,517
  sNII < ₹10L1,269,036 (8.75%)1,258
Retail Shares Offered2,538,071 (17.49%)35,250
Total Shares Offered14,511,146 (100%)

DCX Systems IPO Timeline (Tentative Schedule)

DCX Systems IPO opens on October 31, 2022, and closes on November 2, 2022.

IPO Open Date Monday, October 31, 2022
IPO Close Date Wednesday, November 2, 2022
Basis of Allotment Monday, November 7, 2022
Initiation of Refunds Wednesday, November 9, 2022
Credit of Shares to Demat Thursday, November 10, 2022
Listing Date Friday, November 11, 2022
Cut-off time for UPI mandate confirmation 5 PM on November 2, 2022

DCX Systems IPO Lot Size

Investors can bid for a minimum of 72 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 72 ₹14,904
Retail (Max) 13 936 ₹193,752
S-HNI (Min) 14 1,008 ₹208,656
S-HNI (Max) 67 4,824 ₹998,568
B-HNI (Min) 68 4,896 ₹1,013,472
Lot Size Calculator

DCX Systems IPO Promoter Holding

NCBG Holdings Inc and Vng Technology Private Limited are the company promoter.

Share Holding Pre Issue 98.20%
Share Holding Post Issue 73.58%

About DCX Systems Limited

DCX Systems Limited is among the leading Indian players in the manufacture of electronic sub-systems and cable harnesses. The company commenced operations in 2011 and has been a preferred Indian Offset Partner ("IOP") for foreign original equipment manufacturers ("OEMs") for executing aerospace and defence manufacturing projects.

In 2020, the company commissioned a new manufacturing facility at the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru, Karnataka.

As of June 30, 2022, DCX Systems had 26 customers in Israel, the United States, Korea and India, including certain Fortune 500 companies, multinational corporations and start-ups. The company's customers include domestic and international OEMs, private companies and public sector undertakings in India across different sectors, ranging from defence and aerospace to space ventures and railways.

DCX System's key customers include Elta Systems Limited, Israel Aerospace Industries Limited - System Missiles and Space Division, Bharat Electronics Limited, and Astra Rafael Comsys Private Limited, among others

In Fiscal 2020, 2021 and 2022 and in the three months ended June 30, 2021, and June 30, 2022, DCX Systems' revenue from operations was Rs. 4,492.62 million, Rs. 6,411.63 million Rs. 11,022.73 million, Rs. 1,229.14 million and Rs. 2,132.54 million, respectively.

The company's business verticals:

1. System integrationin areas of radar systems, sensors, electronic warfare, missiles, and communication systems.

2. Cable and Wire Harness Assemblies.

3. The company supplies assembly-ready kits of electronic and electro-mechanical parts.

Company Financials

DCX Systems Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxTotal Borrowing
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of DCX Systems IPO is Rs 2002.18 Cr.

Pre IPO Post IPO
P/E (x) 90

Objects of the Issue (DCX Systems IPO Objectives)

The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:

1. Repayment/ prepayment, in full or part, of certain borrowings availed of by the Company.

2. Funding working capital requirements of the Company.

3. Investment in our wholly owned Subsidiary, Raneal Advanced Systems Private Limited, to fund its capital expenditure expenses.

4. General corporate purposes.

DCX Systems IPO Review (Apply)

[Dilip Davda]  Off late, we are witnessing rising fancy for defence counters and even the Government of India has mooted many initiatives to boost this sector. With “Make in India”, “Atmanirbhar Bharat”, and other liberalized policies, DCXSL – the most preferred Indian offset partner - is poised for bright prospects. Based on its financial performance, the issue appears reasonably priced. Investors may consider investing in this issue for the medium to long-term rewards. Read detail review...

DCX Systems IPO Subscription Status (Bidding Detail)

The DCX Systems IPO is subscribed 69.79 times on November 2, 2022 7:00:00 PM. The public issue subscribed 61.77 times in the retail category, 84.32 times in the QIB category, and 43.97 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
    bNII (bids above ₹10L)45.44
    sNII (bids below ₹10L)41.05

DCX Systems IPO Prospectus

DCX Systems IPO Rating

Rating:Rated 4.1 stars
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DCX Systems IPO Listing Details

Listing Date November 11, 2022
BSE Script Code 543650
Final Issue Price ₹207 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

DCX Systems Limited Contact Details

DCX Systems Limited
Aerospace SEZ Sector, Plot Numbers 29,30 and 107,
Hitech Defence and Aerospace Park, Kavadadasanahal
Village, Devanahalli Taluk, Bengaluru Rural 562110
Phone: +91 80 6711 9555 / 9535

DCX Systems IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

DCX Systems IPO FAQs

DCX Systems IPO is a main-board IPO of [.] equity shares of the face value of ₹2 aggregating up to ₹500.00 Crores. The issue is priced at ₹197 to ₹207 per share. The minimum order quantity is 72 Shares.

The IPO opens on October 31, 2022, and closes on November 2, 2022.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in DCX Systems IPO using UPI as a payment gateway. Zerodha customers can apply in DCX Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in DCX Systems IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'DCX Systems IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The DCX Systems IPO opens on October 31, 2022 and closes on November 2, 2022.

DCX Systems IPO lot size is 72 Shares, and the minimum amount required is ₹14,904.

You can apply in DCX Systems IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for DCX Systems IPO will be done on Monday, November 7, 2022, and the allotted shares will be credited to your demat account by Thursday, November 10, 2022. Check the DCX Systems IPO allotment status.

The DCX Systems IPO listing date is on November 11, 2022.
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DCX Systems IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



592. Hrishikeh Gaikwad |   Link |  Bookmark |December 23, 2022 1:12:57 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
koi abhi tak hold kar raha hai?
592.1. Kami |   Link |  Bookmark |December 30, 2022 1:05:51 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
I am holding my hni allotment!!!
So does @mravi sir, as per his last message.
591. Manup |   Link |  Bookmark |December 23, 2022 10:40:19 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Jisko ipo me nahi mila woh abhi le sakte hai
590. ADP |   Link |  Bookmark |December 13, 2022 5:57:27 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Ye continue bottam bana raha hai
590.1. Kami |   Link |  Bookmark |December 13, 2022 7:21:37 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
589. Kami |   Link |  Bookmark |November 23, 2022 11:02:41 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
People did forget about it😶
589.1. Jaga |   Link |  Bookmark |November 24, 2022 12:08:51 PM
People waiting for good news from dcx after that it will move
588. Kami |   Link |  Bookmark |November 21, 2022 5:46:26 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Is it going to give more returns then listing ?
I am holding my alloted 1shni
Having second thoughts now
587. ADP |   Link |  Bookmark |November 19, 2022 11:34:16 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Long time best stock
586. ipobull |   Link |  Bookmark |November 16, 2022 10:40:29 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Many people talk of 3-5 years horizon. But the world changes so fast including macro-economic, geo-social factors, Covid like pandemics, etc. So, now with stock valuations so high and with market at life time highs, I would remain short term investor. We should be cautious not over-confident for long term. We have seen how some pharma stocks took a beating including the pharma IPOs.

Just mark your returns on a stock and be satisfied with that. Good stocks keep on evolving. So, you have to do little bit of churning to make profits.
586.9. CB🤗 |   Link |  Bookmark |November 26, 2022 5:24:29 PM
IPO Mentor IPO Mentor (1300+ Posts, 400+ Likes)
@ipobull. I was mainly referring to secondary market and time range was 2-3 years in my mind. For example see recent history of Mazdock, Bel, lemon tree, Apollo hospital, Titan, Vedanta, Welspun India, usha Martin, TGVSL, FCL, Coal india. Of course many were down drastically due to pandemic but every time span has its own challenge. Ability to understand and able to remain invested is the key for big profit. Many of the ones I listed has chance to double In coming 2-3 years. I have mere 2-3 year experience in market but veterans can certainly select a few double candidates Kaynes will also double in 2 years I feel so. Not to miss the SME in pipeline which are going to double in size month.
586.10. Hostpacker |   Link |  Bookmark |November 28, 2022 1:08:26 PM
40% within week.
Ipobull, Still you think it will not touch 600 within year.
585. Kalpesh Vinubhai Dhobi |   Link |  Bookmark |November 19, 2022 6:29:15 AM

Dear sir
I aaplied for Dcx system technologies ipo.
On dated 2nd nov but till date 19nov 22 myblocked amount not refunded&credt back in A/c.
585.1. ipobull |   Link |  Bookmark |November 19, 2022 8:45:05 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
You should take up with your banker/ trading firm and not raise such issues in this forum.
584. ipobull |   Link |  Bookmark |November 15, 2022 1:08:24 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Pretty bad set of numbers for DCX. As commented earlier, just exit the counter. In few days, it may go down below 250. The future expected orders are also built into the price. There are other recent IPO stocks like Harsha (which might have made its low at around 404) and Dream folks (which might have made its low today at around 381) which have reported OK set of numbers and the downside seems to have subsided and both are still way above their IPO price. So, good results and stability in stock price is visible. And both are numeruno in their repective areas of operation. In defence field, there is lot of competition with players like MTAR Tech.
584.8. ipobull |   Link |  Bookmark |November 17, 2022 1:02:53 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
@ CB,
Thanks for your good words.
Now, Harsha has finally made a strong base @ 401-404 levels and started its uptrend. It should be safe to hold.
584.9. Pratham |   Link |  Bookmark |November 17, 2022 5:18:15 PM
IPO Mentor IPO Mentor (600+ Posts, 500+ Likes)
Harsha is good to start accumulating at 400 range.
583. Ratgali |   Link |  Bookmark |November 16, 2022 6:21:52 PM
@Monster Zero. dcx not allotted so can buy now at 260.?
583.4. Ratgali |   Link |  Bookmark |November 17, 2022 4:07:50 PM
Ok however I did not buy.dcx... Today I sell nifty see hope goes well... 🤞
583.5. Monster Zero |   Link |  Bookmark |November 17, 2022 4:10:15 PM
IPO Guru IPO Guru (3100+ Posts, 2800+ Likes)
@IPobull....i kept a stoploss at 261 for todays bought qty... stoploss hit on avg was for intraday Swing only.

582. Rohan Bajaj |   Link |  Bookmark |November 15, 2022 12:08:18 PM (400+ Posts)
What to do in this stock? I have 1200 shares at avg of 292/-
582.4. Rohan Bajaj |   Link |  Bookmark |November 15, 2022 5:02:23 PM (400+ Posts)
Exited by selling 1200 shares and booking 15k loss as per your advise. Looks like it will go even more lower.
582.5. ipobull |   Link |  Bookmark |November 16, 2022 9:55:45 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
You did a good thing by listening to me though you should have exited at least at SL of around 287-285 without making much loss. Today it has made another new low. Very soon, it should go down below 250 as it is FV 2 /- stock and underperformed in Q2 after much hype.
581. Monster Zero |   Link |  Bookmark |November 14, 2022 9:38:44 PM
IPO Guru IPO Guru (3100+ Posts, 2800+ Likes)
Underwhelming results as is the case with most companies.
Order book 2600 Cr
More big orders coming soon as stipulated by the company on zee business. Time line given is 15 days for big news.

Business seems cyclic.

581.10. Kamleshbabu |   Link |  Bookmark |November 15, 2022 9:53:32 AM
@Monster Zero Hey bro, can I personal message you and how to inbox you bro on this forum? I need to ask something about swing trading to you.
581.11. Monster Zero |   Link |  Bookmark |November 15, 2022 2:06:44 PM
IPO Guru IPO Guru (3100+ Posts, 2800+ Likes)
@kamlesh sorry..that can't happen

Just booked total 30k in double trade on syrma....with just 52k capital
Best trade returns in my past 2 years.....
580. IPOlov |   Link |  Bookmark |November 15, 2022 1:25:37 PM
Applied 120 lots but not allotted .
Is there any manipulation?
If yes ,then whom to complain ?
Please answer.
579. ipobull |   Link |  Bookmark |November 14, 2022 10:17:33 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Results of DCX certainly not great. Will be very interseting to see its behaviour tomorrow. May be news of new orders coming keep it afloat.
579.1. ipobull |   Link |  Bookmark |November 15, 2022 10:26:47 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
No interest expected in the stock. Exit it fully. It should slowly drift down.
579.2. Kamleshbabu |   Link |  Bookmark |November 15, 2022 10:48:46 AM
Bro, I think I agree with you compared to the hype before IPO and after IPO there is clear difference it seem like no one is interested in this counter anymore :( :(
578. IPOINPUT |   Link |  Bookmark |November 15, 2022 8:50:52 AM
Today institutions will buy the HNI's who are selling despite the news of an incoming order out.
Just two quarters are enough to take it to 420+
Great chance for those who didn't get allotment
577. IPOINPUT |   Link |  Bookmark |November 14, 2022 10:30:48 PM
Very good results, in line with management's pre-ipo guidance.

Management during the pre-ipo briefing had clearly stated that in defense business, the 2nd half of the year is always more lucrative as compared to the 1st half.

Moreover YoY results for the quarter are great. New orders are imminent and 3rd and 4th quarter results would be great due to seasonality.

Buy- For target 420+
576. Nihal D |   Link |  Bookmark |November 14, 2022 4:38:33 PM
Did anyone check DCX systems quarterly results? If yes, please can you provide info on whether stock should be held for short term or exit tomorrow?
576.1. Gosohiw |   Link |  Bookmark |November 14, 2022 5:09:15 PM
Already exited today. Information leaks and chart show it somehow !!
575. GuruMahadev |   Link |  Bookmark |November 14, 2022 10:29:21 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
We are badly missing Jithin Lal ji.... remember Ather energy Listing
575.1. Param Patel |   Link |  Bookmark |November 14, 2022 4:08:55 PM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
Bhai Jyada bhavnao me beh gaye kyuki na koi jithin lalji hai aur nahi Ather energy ka IPO aaya hai abhi tak 😂😂
575.2. Takamichi |   Link |  Bookmark |November 14, 2022 4:23:32 PM
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
*jetha lal
*Aether industries
Well u should use your own analysis and make decision, get the data sets from different places and do your own analysis.....
574. Gulsan |   Link |  Bookmark |November 14, 2022 9:30:13 AM
Aisa kyu hota hai baar baar ....
Mere bechne ke bad upar a jata hai har bar...😆😆😆
573. Kamleshbabu |   Link |  Bookmark |November 14, 2022 9:16:47 AM
Don't sell guys, it is just a artificial panic creation. This is how operators / big fish kick weak hands out so that they can take position at the lower price.

I have kept my SL at 258 and holding for the targets of 350+

P. S :- Not a recommendation, just sharing my views. Please listen to your heart & mind before making financial decision.