DCX Systems Listing: Defense and aerospace sector giant DCX Systems gave great listing gain to IPO investors. Its shares were listed on the BSE on November 11 at a price of Rs 286.25 against the IPO price of Rs 207, ie IPO investors got a premium of about 39 percent.

After that it reached further heights. It touched a high of Rs 304.85 in intra-day. At present, it is trading at a premium of over 45 per cent on the BSE at Rs 301.20. Its Rs 500 crore IPO also got a great response from investors. The issue was subscribed almost 70 times.

DCX Systems IPO received a great response

The IPO of DCX Systems was open for subscription from 31 October - 2 November. Under this IPO of Rs 500 crore, new shares worth Rs 400 crore have been issued. The price band was Rs 197-207 and the lot size was 72 shares.

The issue received an overwhelming response from all categories of investors. The share reserved for qualified institutional buyers (QIBs) was subscribed 84.32 times, non-institutional buyers (NIIs) 43.97 times and retail investors 61.77 times. Overall this issue was subscribed 69.79 times.

What is the business of DCX SYSTEMS?

DCX Systems is a Bangalore-based company that manufactures cables and wire harness assemblies. Coming to the financial health of the company, its operational revenue grew at a CAGR of 56.64 per cent from Rs 449 crore in FY20 to Rs 1,102 crore in FY22. The order book of the company also jumped from Rs 1941 crore to Rs 2369 crore during this period.