DCX Systems was incorporated on December 16, 2011, as DCX Cable Assemblies Private Limited. The company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies and is also involved in kitting.
| Bidding Dates |
|---|
| 31 Oct 2022 - 02 Nov 2022 |
| Subscription |
|---|
| 69.78x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,904 | 1 | 13 | 72 | 24.2 M | ₹197 - ₹207 | 75.03 % | ₹4758.5 M - ₹5000.0 M | RHP DOC |
DCX Systems IPO SUBSCRIPTION STATUS
02 Nov '22DCX Systems IPO overall subscription rate was 69.78 times the total available shares
DCX Systems IPO retail subscription rate was 61.72 times in the retail segment
DCX Systems IPO non-institutional investor subscription rate was 43.97 times in the non-institutional investor category
DCX Systems IPO Qualified Institutional Bidder subscription rate was 84.32 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
01 Nov 2022 (Day 2) | 26.55x | 11.05x | 1.82x |
02 Nov 2022 (Day 3) | 61.72x | 43.97x | 84.32x |
31 Oct 2022 (Day 1) | 8.7x | 2.16x | 0.03x |
DCX Systems FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| Q1FY23 | 55.7 | 2,132.5 | -197.0 | -197.5 |
| Q1FY22 | 33.5 | 1,229.1 | -425.9 | -426.1 |
| FY22 | 656.1 | 11,022.7 | -1,340.3 | -1,352.5 |
| FY21 | 295.6 | 6,411.6 | 1,139.8 | 1,125.5 |
| FY20 | 97.4 | 4,492.6 | 1,300.3 | 1,197.5 |
DCX Systems IPO SUBSCRIPTION STATUS DETAILS
DCX Systems had 24.2 M shares on offer
DCX Systems IPO offer price was in the range ₹197 - ₹207
DCX Systems IPO minimum Investment was ₹14904
DCX Systems IPO issue size was ₹ 4758.5 M - ₹ 5000.0 M
DCX Systems had a minimum lot size of 72 Shares per application
DCX Systems NUMBER OF SHARES ON OFFER
DCX Systems IPO IMPORTANT DATES
| Issue Open Date | 31 Oct 2022 |
| Issue close Date | 02 Nov 2022 |
| Allotment Date | 07 Nov 2022 |
| Refund Date | 09 Nov 2022 |
| Demat Account Credit Date | 10 Nov 2022 |
| Listing Date | 11 Nov 2022 |
| Listing on Exchange(s) | NSE and BSE |
| DCX Systems Allotment Status | Exchange |
DCX Systems IPO subscription opened on 31 Oct 2022, and closed on 02 Nov 2022
IPO allotment for DCX Systems was finalized on Monday, 07 Nov 2022
IPO listing for DCX Systems was on NSE and BSE on Friday, 11 Nov 2022
DCX Systems IPO LISTING GAINS
| Issue Price (adjusted) | 207.0 |
| Listing Open Price | 287.0 |
| Listing Close Price | 308.4 |
| Listing Gain% | 38.6% |
| Current Gain% | -13.8% |
DCX Systems Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DCX Systems Ltd. | 178.4 | 1725.9 | -257.8 | 2.2 | 2.7 | -0.5 | -0.4 | 788.5 | -32.2 | -7.7 | -119.8 | -0.7 | -119.8 |
| Hindustan Aeronautics Ltd. | 4910 | 328368.5 | 36 | 4 | 9.9 | 22.2 | 6.9 | 36788 | 9.7 | 9115.6 | 9 | 136.3 | 9 |
| Bharat Electronics Ltd. | 401 | 293122.1 | 47.7 | 4.1 | 10.2 | 25.3 | 13.6 | 28176.1 | 15 | 6062 | 13.9 | 8.4 | 11.7 |
| Mazagon Dock Shipbuilders Ltd. | 2514.9 | 101446 | 35.5 | 1.1 | 7.6 | 26.5 | 9.4 | 14145.7 | 12.7 | 2583.3 | 7 | 70.8 | 31.7 |
| Bharat Dynamics Ltd. | 1294 | 47433.2 | 112.8 | -4.8 | 19.4 | 9.9 | 2.9 | 2865.6 | -22.5 | 420.3 | -23.5 | 11.5 | -23.5 |
| Garden Reach Shipbuilders & Engineers Ltd. | 2599 | 29772.1 | 37.2 | 0.9 | 4 | 28.5 | 7 | 7276.5 | 34.5 | 747.9 | 41.8 | 69.9 | 42.9 |
DCX Systems INFORMATION ON IPO ISSUE
About DCX Systems
DCX Systems was incorporated on December 16, 2011, as DCX Cable Assemblies Private Limited. The company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies and is also involved in kitting.
Object of the Issue
- Repayment/prepayment, in full or part, of certain borrowings, availed of by the company
- Funding working capital requirements of the company
- Investment in the wholly-owned subsidiary, Raneal Advanced Systems, to fund its capital expenditure expenses
- General corporate purposes
DCX Systems - PROMOTERS
| Name |
|---|
| NCBG Holdings Inc |
| Vng Technology Private Limited |
DCX Systems Book Running Lead Manager
Axis Capital Limited
dcx.ipo@axiscap.in
Saffron Capital Advisors Private Limited
project.kapila@saffronadvisor.com
Edelweiss Financial Services Limited
dcx.ipo@edelweissfin.com
DCX Systems Registrar to the Offer
Link Intime India Private Limited
dcxsystems.ipo@linkintime.co.in
DCX Systems Strengths
Global accreditations
The company is among the preferred Indian offset partners for the defence and aerospace industry with global accreditations
Technology-enabled
The company's system integration services are a part of an array of electronic, electro-mechanical and wired assemblies, and full-system integration services, which can be configured as per customers' requirements
Cash flows visibility
The company has a business model with visibility of cash flows and the ability to mitigate operational and technology risks
Strategically located
The company is strategically located in an aerospace special economic zone with an advanced and modern manufacturing facility
Financial performance
The company is well-positioned to capitalize on industry tailwinds and also has a track record of consistent financial performance
DCX Systems Risks
Dependent on contracts
The company's revenue from operations depends significantly on offset defence contracts from the government
Dependent on market
The company is dependent on the performance of the electronic subsystems market
Indebtedness
The company has incurred indebtedness and its inability to comply with repayment and other covenants in the financing agreements could adversely affect the business and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 100.0 crore, of 4,830,918 shares. It also consists of a fresh issue of Rs 400.0 crore.
The promoters of the company are NCBG Holdings Inc and Vng Technology Private Limited.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 197.0 - 207.0.
The IPO application opens on Oct 31, 2022 and closes on Nov 02, 2022.
The minimum lot size for the IPO is 72. The maximum lot size for the IPO is 936.
For all category investors, the minimum application amount for this IPO is Rs. 14,904.0, the maximum value for this IPO is Rs 193,752.0.
This IPO will be allotted on Nov 07, 2022.
The refund will be credited to your account on Nov 09, 2022.
The allotted shares will be credited to your demat on Nov 10, 2022.
DCX Systems Ltd.’s shares listed on the stock exchanges on Nov 11, 2022.