DCX Systems IPO opens today: Should you subscribe? Check GMP, listing and other details

New Delhi: Manufacturer of cables and wire harness assemblies DCX Systems initial public offering (IPO) is opening today (October 31). The three day IPO which will close on November 2, comprises an offer for sale of equity shares to the tune of up to Rs 100 crore by promoters -- NCBG Holdings Inc and VNG Technology.

The company had on Friday said that it has raised Rs 225 crore from anchor investors days ahead of its IPO.  HDFC Mutual Fund, Motilal Oswal Mutual Fund and BNP Paribas Arbitrage are among the anchor investors.

According to the company, 75 per cent of the issue size has been reserved for qualified institutional investors, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.

Investors can bid for a minimum of 72 equity shares and in multiples of 72 equity shares thereafter.

The company has decided to allocate over 1.08 crore equity shares to anchor investors at Rs 207 apiece, aggregating the transaction size to Rs 225 crore, according to a circular uploaded on BSE website.

DCX Systems IPO Listing, GMP and other details

The issue, with a price band of Rs 197 to Rs 207 per share, will likely list on BSE and NSE on November 11. As per reports, the DCX Systems latest GMP suggests a premium of Rs 75.

The Bengaluru-based 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.

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.