Bookbuilding IPO | ₹500 Cr | Listed at BSE, NSE | Mon, Oct 31, 2022 - Wed, Nov 2, 2022
DCX Systems IPO is a book build issue of ₹500.00 crores. The issue is a combination of fresh issue of 1.93 crore shares aggregating to ₹400.00 crores and offer for sale of 0.48 crore shares aggregating to ₹100.00 crores.
DCX Systems IPO bidding started from Oct 31, 2022 and ended on Nov 2, 2022. The allotment for DCX Systems IPO was finalized on Nov 7, 2022. The shares got listed on BSE, NSE on Nov 11, 2022.
DCX Systems IPO price band is set at ₹207 per share. The lot size for an application is 72. The minimum amount of investment required by an retail is ₹14,904 (72 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,008 shares), amounting to ₹2,08,656, and for bNII, it is 68 lots (4,896 shares), amounting to ₹10,13,472.
Edelweiss Financial Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to DCX Systems IPO RHP for detailed Information.
IPO Open
Mon, Oct 31, 2022
IPO Close
Wed, Nov 2, 2022
Issue Price
₹207 per share
Market Cap (Pre-IPO)
₹2,002.18 Cr
| IPO Date | 31 Oct to 2 Nov, 2022 |
| Listed on | Fri, Nov 11, 2022 |
| Face Value | ₹2 per share |
| Price Band | ₹197 to ₹207 |
| Issue Price | ₹207 per share |
| Lot Size | 72 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,41,54,587 shares (agg. up to ₹500 Cr) |
| Fresh Issue | 1,93,23,671 shares (agg. up to ₹400 Cr) |
| Offer for Sale | 48,30,916 shares of ₹2 (agg. up to ₹100 Cr) |
| Share Holding Pre Issue | 7,74,00,000 shares |
| Share Holding Post Issue | 9,67,23,671 shares |
| BSE Script Code / NSE Symbol | 543650 / DCXINDIA |
| ISIN | INE0KL801015 |
DCX Systems IPO offers total 2,41,54,587 shares. Out of which 1,81,15,941 (75.00%) allocated to QIB, 72,46,377 (30.00%) allocated to QIB (Ex- Anchor), 36,23,188 (15.00%) allocated to NII 24,15,458 (10.00%) allocated to RII and 1,08,69,564 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,81,15,941 (75.00%) | NA |
| − Anchor Investor Shares Offered | 1,08,69,564 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 72,46,377 (30.00%) | NA |
| NII (HNI) Shares Offered | 36,23,188 (15.00%) | NA |
| − bNII > ₹10L | 24,15,459 (10.00%) | 2,396 |
| − sNII < ₹10L | 12,07,729 (5.00%) | 1,198 |
| Retail Shares Offered | 24,15,458 (10.00%) | 33,548 |
| Total Shares Offered | 2,41,54,587 (100.00%) |
Investors can bid for a minimum of 72 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 72 | ₹14,904 |
| Retail (Max) | 13 | 936 | ₹1,93,752 |
| S-HNI (Min) | 14 | 1,008 | ₹2,08,656 |
| S-HNI (Max) | 67 | 4,824 | ₹9,98,568 |
| B-HNI (Min) | 68 | 4,896 | ₹10,13,472 |
DCX Systems IPO raises ₹225.00 crore from anchor investors. DCX Systems IPO Anchor bid date is October 28, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Oct 28, 2022 |
| Shares Offered | 1,08,69,564 |
| Anchor Portion (₹ Cr.) | 225.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Dec 7, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Feb 5, 2023 |
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 | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 763.41 | 793.18 | 698.85 |
| Total Income | 128.69 | 683.24 | 465.23 |
| Profit After Tax | 3.35 | 29.56 | 9.74 |
| NET Worth | 0.00 | 0.00 | 0.00 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 |
| Total Borrowing | 112.62 | 136.38 | 133.98 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ prepayment, in full or part, of certain borrowings availed of by our Company | 110.00 |
| 2 | Funding working capital requirements of our Company | 160.00 |
| 3 | Investment in our wholly owned Subsidiary, Raneal Advanced Systems Private Limited, to fund its capital expenditure expenses; and | 44.88 |
| 4 | General corporate purposes | 58.15 |
| KPI | |
|---|---|
| ROE | 55.8 |
| ROCE | 13.15 |
| Debt/Equity | 4.27 |
| RoNW | 55.79 |
| PAT Margin | 5.84% |
| EBITDA Margin | 7.61% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 9.19 | |
| P/E (x) | 90 | |
| Promoter Holding | 98.20% | 73.58% |
| Market Cap | ₹2,002.18 Cr. |
The DCX Systems IPO is subscribed 69.79 times on November 2, 2022 7:00:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 84.32 | 81,65,969 | 68,85,49,896 |
| NII | 43.97 | 38,07,106 | 16,74,15,912 |
| bNII (bids above ₹10L) | 45.44 | 25,38,070 | 11,53,25,640 |
| sNII (bids below ₹10L) | 41.05 | 12,69,036 | 5,20,90,272 |
| Retail | 61.77 | 25,38,071 | 15,67,88,424 |
| Total | 69.79 | 1,45,11,146 | 1,01,27,54,232 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | 17.50 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.99 |
| 3 | Fees payable to the Registrar to the Offer | 0.00 |
| 4 | Fees payable to the other advisors to the Offer | 0.85 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 2.02 |
| 6 | Printing and stationery expenses | 1.70 |
| 7 | Advertising and marketing expenses | 3.10 |
| 8 | Fees payable to legal counsels | 5.00 |
| 9 | Miscellaneous | 0.56 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹207.00 |
| Open | ₹286.25 |
| Low | ₹286.25 |
| High | ₹319.75 |
| Last Trade | ₹308.80 |
DCX Systems IPO is a main-board IPO of 2,41,54,587 equity shares of the face value of ₹2 aggregating up to ₹500 Crores. The issue is priced at ₹207 per share. The minimum order quantity is 72.
The IPO opens on Mon, Oct 31, 2022, and closes on Wed, Nov 2, 2022.
MUFG Intime India Pvt.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 Mon, Oct 31, 2022 and closes on Wed, Nov 2, 2022.
DCX Systems IPO lot size is 72, and the minimum amount required for application is ₹14,904.
You can apply in DCX Systems IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Thu, Nov 10, 2022. Check the DCX Systems IPO allotment status.
The DCX Systems IPO listing date is on Fri, Nov 11, 2022.
