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DCX Systems IPO oversubscribed on Day 1 — retail bids at nearly 9 times

DCX Systems IPO oversubscribed on Day 1 — retail bids at nearly 9 times

DCX Systems IPO oversubscribed on Day 1 — retail bids at nearly 9 times
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By Sandeep Singh  Nov 1, 2022 8:02:20 AM IST (Published)

DCX Systems IPO: Potential investors can bid for shares of DCX Systems, a Bengaluru-based maker of cables and wire harness assemblies, in a price band of Rs 197-207 in multiples of 72.

DCX Systems' IPO to raise up to Rs 500 crore received bids for two times the shares on Monday, the first day of the bidding process. Bengaluru-based DCX is a manufacturer of cables and wire harness assemblies. The IPO, comprising fresh issuance of shares worth to Rs 400 crore and an offer for sale (OFS) of up to Rs 100 crore by existing shareholders, will be available for two more trading days from 10 am to 5 pm.

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At the end of October 31, the DCX IPO received bids for 3.1 crore shares against the 1.5 crore shares on offer — a subscription of 2.1 times, with a robust response from retail investors.
Up to 10 percent of the IPO is reserved for retail investors, up to 15 percent for high net worth individuals and at least 75 percent for qualified institutional buyers.
Potential investors can bid for DCX Systems shares in a price band of Rs 197-207 in multiples of 72 under the IPO. This translates to a bidding price of Rs 14,184-14,904 per lot.
DCX shares are likely to be listed on bourses BSE and NSE on November 11, following the finalisation of basis of allotment on November 7.
DCX logged a net profit of Rs 65.6 crore for the year ended March 2022 with revenue of Rs 1,102.3 crore.
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