HomeLifestyleGreat listing of DCX Systems, 39 percent profit made to investors as...

Great listing of DCX Systems, 39 percent profit made to investors as soon as they came in the market

Highlights

The price band of the IPO was Rs 197-207 per share.
The company manufactures cables and wire harness assemblies.
The IPO got tremendous support from the investors.

New Delhi. A great listing of the shares of DX Systems, a company in the defense and aerospace sector, has happened today. The company’s shares are listed on NSE with a premium of 39 percent at Rs 287, while on BSE the shares are listed at a premium of 38.29 percent. This IPO was subscribed 69.79 times. Subscribed 82.32 times the quota fixed for Qualified Institutional Investors. While the non-institutional quota is 43.97 times and retail investors’ quota is subscribed 61.77 times.

The DCX Systems IPO opened on 31 October and closed on 2 November. DCX Systems has raised Rs 500 crore through this IPO. The price band of the IPO was Rs 197-207 per share. Many brokerages gave positive reviews regarding the IPO and even in the gray market, unlisted shares were trading at a premium.

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dcx systems business
DX Systems is a Bangalore-based company that manufactures cables and wire harness assemblies. The company’s operating revenue grew at a CAGR (Compound Annual Growth Rate) of 56.64 per cent from Rs 449 crore in FY20 to Rs 1102 crore in FY22. The order book of the company also jumped from Rs 1941 crore to Rs 2369 crore during this period.

Analysts had expressed the possibility of a great listing
According to Mint news, Aastha Jain, Senior Research Analyst, Hem Securities, said, “We expect DCX Systems to list at an issue price of 36-40 per cent premium. The business model of the company is very good.

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Abhay Doshi, founder of UnlistedArena.com, had also said that the IPO of DCX Systems has received very good response from investors. Therefore, good listing of the shares of this IPO can be expected.

Today the market is also booming
The Indian stock market is also booming today. In today’s business, the Sensex is showing an increase of 952 points, while the Nifty has crossed 18 thousand. The Sensex opened at 61,311 with a gain of 697 points this morning. Nifty is trading at 18,272 with a gain of 244 points.

Tags: business news in hindi, IPO, stock market

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