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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 ₹207.00 per share . The lot size for an application is 72. The minimum amount of investment required by an retail is ₹14,184 (72 shares). 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 Date | October 31, 2022 to November 2, 2022 |
| Listing Date | November 11, 2022 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹197 to ₹207 per share |
| Issue Price Final | ₹207 per share |
| Lot Size | 72 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,41,54,587 shares (aggregating up to ₹500.00 Cr) |
| Fresh Issue | 1,93,23,671 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 48,30,916 shares of ₹2 (aggregating up to ₹100.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,74,00,000 shares |
| Share Holding Post Issue | 9,67,23,671 shares |
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, 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 | Maximum 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%) |
DCX Systems IPO raises ₹225.00 crore from anchor investors. DCX Systems IPO Anchor bid date is October 30, 2022. DCX Systems IPO Anchor Investors list
| Bid Date | October 30, 2022 |
| Shares Offered | 1,08,69,564 |
| Anchor Portion Size (In Cr.) | 225.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 7, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 5, 2023 |
DCX Systems IPO opens on October 31, 2022, and closes on November 2, 2022.
| IPO Open Date | Mon, Oct 31, 2022 |
| IPO Close Date | Wed, Nov 2, 2022 |
| Tentative Allotment | Mon, Nov 7, 2022 |
| Initiation of Refunds | Wed, Nov 9, 2022 |
| Credit of Shares to Demat | Thu, Nov 10, 2022 |
| Tentative Listing Date | Fri, Nov 11, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Nov 2, 2022 |
Investors can bid for a minimum of 72 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-20 | 698.85 | 465.23 | 9.74 | 133.98 |
| 31-Mar-21 | 793.18 | 683.24 | 29.56 | 136.38 |
| 30-Jun-21 | 763.41 | 128.69 | 3.34 | 112.62 |
| Amount in ₹ Crore | ||||
The market capitalization of DCX Systems IPO is ₹2002.18 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 90 |
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.
[Dilip Davda] Off late, we are witnessing rising fancy for defence counters and even the Government of India has mooted many initiatives to boost this sector. With “Make in India”, “Atmanirbhar Bharat”, and other liberalized policies, DCXSL – the most preferred Indian offset partner - is poised for bright prospects. Based on its financial performance, the issue appears reasonably priced. Investors may consider investing in this issue for the medium to long-term rewards. Read detail review...
| Listing Date | November 11, 2022 |
| BSE Script Code | 543650 |
| NSE Symbol | DCXINDIA |
| ISIN | INE0KL801015 |
| Final Issue Price | ₹207 per share |
| BSE Listing Group | B |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹207.00 |
| Open | ₹286.25 |
| Low | ₹286.25 |
| High | ₹319.75 |
| Last Trade | ₹308.80 |
DCX Systems Ltd.
Aerospace SEZ Sector, Plot Numbers 29,30 and 107,
Hitech Defence and Aerospace Park, Kavadadasanahal
Village, Devanahalli Taluk, Bengaluru Rural 562110
Bengaluru, Karnataka
Phone: +91 80 6711 9555 / 9535
Email: cs@dcxindia.com
Website: http://www.dcxindia.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: dcxsystems.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
DCX Systems IPO is a main-board IPO of 2,41,54,587 equity shares of the face value of ₹2 aggregating up to ₹500.00 Crores. The issue is priced at ₹207 per share. The minimum order quantity is 72.
The IPO opens on October 31, 2022, and closes on November 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 October 31, 2022 and closes on November 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 Thursday, November 10, 2022. Check the DCX Systems IPO allotment status.
The DCX Systems IPO listing date is on Friday, November 11, 2022.
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