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DCX Systems lists on the bourses at a 39% premium to its issue price

DCX Systems lists on the bourses at a 39% premium to its issue price

DCX Systems lists on the bourses at a 39% premium to its issue price
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By Hormaz Fatakia  Nov 11, 2022 10:17:01 AM IST (Updated)

The three-day DCX Systems IPO was subscribed nearly 70 times, receiving bids for 104.7 crore shares compared to the 1.5 crore shares on offer.

DCX Systems - a maker of cables and wire harness assemblies listed on the bourses at Rs 287. Shares listed at a premium of 39 percent to its issue price of Rs 207.

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The IPO of DCX Systems, through which the company intended to raise Rs 500 crore was subscribed nearly 70 times. It received bids for 104.7 crore shares against the 1.5 crore shares on offer.
Majority of the subscription was led by Qualified Institutional Bidders, who sent 84.3 times more bids than the number of shares on offer for their section.
The portion for Non-Institutional Investors (NIIs) was subscribed 44 times while retail saw 61.8 times the subscription for the shares on offer.
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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