DCX Systems IPO: Another company is going to bring IPO (Initial Public Offering) in the stock market for investors. Bangalore-based DCX Systems IPO (DCX Systems IPO) is going to open next week. The company’s IPO will open on October 31. Investors will be able to apply for investment in the IPO till November 2.
What is the price band of the company’s IPO
DCX Systems Company has fixed a price band of Rs 197 to 207 per share for the IPO. The company is going to use the money raised from this IPO to meet the loan repayment and working capital requirements. The proceeds from the IPO will also be used for investment in subsidiary Ranial Advance Systems, capital expenditure expenses and meeting general corporate requirements.
How is the response of DCX Systems shares in the gray market?
Even before the IPO of DCX Systems opens, its shares are getting a great response in the gray market. The company’s shares are trading at a premium of Rs 88, i.e. if investors are allotted shares in the upper price band, then listing at a premium of Rs 88 can give a profit of Rs 88 per share. If the shares are listed at a minimum premium of Rs 88, they can be listed at Rs 295.
what does the company do
DCX Systems manufactures cables and wire harness assemblies products. The DCX Systems shares will be listed on both BSE and NSE which is expected to be held on November 11.
What is the size of IPO
DCX Systems is going to raise Rs 500 crore from the market through IPO and out of this Rs 400 crore will be raised through fresh issue. While the company’s promoters NCBG Holdings Inc and VNG Technology will raise Rs 100 crore by selling their stake through offer for sale.
Other IPO Information
Edelweiss Financial Services, Axis Capital and Safron Capital are the book running lead managers of the IPO.
10% quota for retail investors
In IPO, 75 percent quota has been kept reserved for institutional investors. 15 percent quota has been kept for non-institutional investors and 10 percent for retail investors. Investors can apply for a lot of at least 72 shares and the minimum expenditure for this is Rs 14,904.
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