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DCX Systems IPO subscribed 70 times on final day

DCX Systems IPO subscribed 70 times on final day

DCX Systems IPO subscribed 70 times on final day
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By Sandeep Singh  Nov 3, 2022 3:07 PM IST (Updated)

DCX Systems IPO: The initial share sale of the Bengaluru-based maker of cables and wire harness assemblies concluded with bids for 104.7 crore shares against the 1.5 crore shares on offer.

DCX Systems' IPO, to raise up to Rs 500 crore, concluded on Wednesday with an overall subscription of 69.8 times the shares on offer. The IPO of DCX — a Bengaluru-based manufacturer of cables and wire harness assemblies —included fresh issuance of shares worth Rs 400 crore.

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By the end of the final day of the bidding process, the DCX IPO received bids for 104.7 crore shares against the 1.5 crore shares on offer, according to exchange data. Out of the total issue, up to 10 percent of shares were reserved for retail investors, up to 15 percent for non-institutional investors and at least 75 percent for qualified institutional buyers.
Bidding for DCX Systems shares was available in a price band of Rs 197-207 in multiples of 72 under the IPO — translating to Rs 14,184-14,904 to bid per lot.
DCX Systems shares will likely be listed on stock exchanges BSE and NSE on November 11.
For the year ended March 2022, DCX Systems registered a net profit of Rs 65.6 crore and revenue of Rs 1,102.3 crore.
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