The initial public offering (IPO) of Bengaluru-based DCX Systems will open on October 31 and end on November 2. On October 28, the anchor investors will place a bid.
The company said that the basis for share allocation will occur on November 7 and that the credit of equity shares to the depository will take place on November 10. On November 11, the stock will go public on exchanges.
The company reduced its first offering size from Rs600 crore to Rs500 crore. The company now intends to raise Rs 400 crore through a new issuance and Rs 100 crore through an OFS from its current promoters and shareholders.
The OFS includes contributions from NCBG Holdings Inc. and VNG Technology Pvt. Ltd. of up to Rs50 crore each.
The 110 crore rupee issue's proceeds would be used to pay down the company's debt. The company had a total debt of Rs483.81 crore as of August 31, 2022.
The company would use Rs160 crore to meet its working capital needs. Additionally, it will invest Rs44.88 crore in its subsidiary Rancal Advanced Systems Pvt. Ltd. to pay for capital expenses.
The issue's lead managers are Edelweiss Financial Services Ltd, Axis Capital, and Saffron Capital Advisors Pvt Ltd.
The company is a top producer of cable harnesses and electronic subsystems for the aerospace and defense industries in India. Its main business is system integration, but it also produces a wide range of cables and wire harness assemblies and engages in kitting.
Its total order book was worth Rs2,563.63 crore as of June 2022. The business runs out of a production plant at Bengaluru's Hi-Tech Defence and Aerospace Park Special Economic Zone. It has 26 clients as of June 30, 2022, spread across Israel, the US, Korea, and India. These clients included some Fortune 500 firms, global enterprises, and start-ups.
Compared to Rs128.69 crore in the same period last year, the company reported total revenue of Rs220.25 crore for the June quarter. Compared to Rs3.35 crore in the previous year, the net profit for the period was Rs5.57 crore.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.