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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.
| 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 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 Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 8,165,969 (56.27%) | NA |
| NII (HNI) Shares Offered | 3,807,106 (26.24%) | |
| bNII > ₹10L | 2,538,070 (17.49%) | 2,517 |
| sNII < ₹10L | 1,269,036 (8.75%) | 1,258 |
| Retail Shares Offered | 2,538,071 (17.49%) | 35,250 |
| Total Shares Offered | 14,511,146 (100%) |
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 |
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 | |||
NCBG Holdings Inc and Vng Technology Private Limited are the company promoter.
| Share Holding Pre Issue | 98.20% |
| Share Holding Post Issue | 73.58% |
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.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-20 | 698.85 | 465.23 | 9.74 | 133.98 |
| 31-Mar-21 | 793.18 | 683.24 | 29.56 | 136.38 |
| 30-Jun-21 | 763.41 | 128.69 | 3.34 | 112.62 |
| Amount in ₹ Crore | ||||
The market capitalization of DCX Systems IPO is Rs 2002.18 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 90 |
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.
[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...
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)
| Category | Subscription (times) |
|---|---|
| QIB | 84.32 |
| NII | 43.97 |
| bNII (bids above ₹10L) | 45.44 |
| sNII (bids below ₹10L) | 41.05 |
| Retail | 61.77 |
| Total | 69.79 |
| Listing Date | November 11, 2022 |
| BSE Script Code | 543650 |
| NSE Symbol | DCXINDIA |
| ISIN | INE0KL801015 |
| Final Issue Price | ₹207 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹207.00 |
| ₹286.25 |
| ₹286.25 |
| ₹319.75 |
| ₹308.80 |
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
Email: cs@dcxindia.com
Website: http://www.dcxindia.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: dcxsystems.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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
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.
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