DCX Systems IPO Listing: Shares make strong debut on NSE, BSE; check listing gains

DCX Systems IPO Listing Price, DCX Share Price: Shares of DCX Systems made a strong stock market debut on Friday, November 11, listing at Rs 287 apiece on the NSE, a premium of 38.65 per cent above the issue price of Rs 207. On the BSE, shares of DCX Systems started trading at Rs 286.2 apiece, delivering a handsome listing gain of over 38 per cent.

Zee Business Managing Editor Anil Singhvi had earlier said that investors can subscribe to the IPO. He had said that DCX Systems share price would make a strong debut and investors can expect good listing gains. Besides, he had also suggested that stock could yield good returns in long-term.

The public subscription of Rs 400 crore initial share sale of DCX Systems opened on October 31 and closed on November 2. The Bengaluru-based company is one of the leading manufacturers of electronic sub-systems and cable harnesses in the country.

"The promoters of the company have a clean background. Also, the company is in the defence sector and this is why it has very strong potential. This is a small-size IPO and has an attractive valuation," Singhvi had said.

DCX Systems IPO Price Band
 

The price band of DCX Systems was fixed at Rs 197-207 per share. DCX Systems IPO was available in lots and one lot comprised 72 company shares at Ra 14,904. Ahead of its initial share sale, the company has raised Rs 225 crore from anchor investors. 

The company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies, and are also involved in kitting.

DCX Systems' revenue from operations grew at a CAGR of 56.64 per cent from Rs 449 crore in fiscal 2020 to Rs 1,102 crore in fiscal 2022. The company's order book has increased from Rs 1,941 crore as of March 31, 2020 to Rs 2,369 crore, as of March 31, 2022.

Edelweiss Financial Services, Axis Capital and Saffron Capital Advisors are the book running lead managers to the issue. The equity shares are proposed to be listed on both the bourses, BSE and NSE.

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