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DCX System Limited IPO Detail

DCX System Limited IPO Detail

DCX Systems Limited is among the leading Indian players in the manufacture of electronic sub-systems and cable harnessesThe 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 Promoters

NCBG Holdings Inc and Vng Technology Private Limited

IPO Details

IPO Opening DateOct 31, 2022
IPO Closing DateNov 02, 2022
Issue TypeBook Built Issue IPO
Face Value₹2 per equity share
IPO Price ₹197 - 207 per equity share
Market Lot72 Shares
Min Order Quantity72 Shares
Listing AtBSE, NSE
Issue Size₹500.00 Cr
Fresh Issue₹400.00 Cr
Offer for Sale₹100.00 Cr
Retail Portion 10%

IPO Subscription (Bidding Detail)

Day 1 0.03x 2.16x 8.7x 0x - 2.11x
Day 2 1.82x 11.05x 26.55x 0x - 8.57x
Day 3 84.32x 43.97x 61.77x 0x - 69.79x

IPO Tentative Timetable

The DCX System Limited IPO open date is Oct 31, 2022, and the close date is Nov 02, 2022. The issue may list on Nov 11, 2022.

IPO Open DateOct 31, 2022
IPO Close DateNov 02, 2022
Basis of Allotment DateDec 07, 2022
Initiation of RefundsDec 09, 2022
Credit of Shares to Demat AccountNov 10, 2022
IPO Listing DateNov 11, 2022

IPO Lot Size

The DCX System Limited IPO market lot size is 72 shares. A retail-individual investor can apply for up to 13 lots (936 shares or ₹193752).

ApplicationLotsSharesAmount (Cut-off)

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-20 698.85 465.23 9.74
31-Mar-21 793.18 683.24 29.56
30-Jun-21 763.41 128.69 3.34

Objects of the Issue:

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 System Limited IPO Registrar:

Link Intime India Private Ltd

DCX System Limited IPO Lead Manager(s):

Edelweiss Financial Services Ltd Axis Capital Limited Saffron Capital Advisors Private Limited

Company Contact Information:

DCX System Limited

Aerospace SEZ Sector, Plot Numbers 29,30 and 107,

Hitech Defence and Aerospace Park, Kavadadasanahal

Village, Devanahalli Taluk, Bengaluru Rural 562110