dcx systems share price: DCX Systems makes a strong Dalal Street debut, lists at 39% premium
The manufacture of electronic sub-systems and cable harnesses debuted at a premium of 38% at Rs 287 as against the given issue price on the National Stock Exchange (NSE).
Ahead of its listing, the company’s shares were changing hands at a premium of Rs 88-90 over the issue price in the grey market, hinting at a solid listing pop.
The initial public offering of DCX Systems was open for subscription between October 31 to November 2, 2022. The company raised Rs 500 crore via its initial stake sale by offering shares in the range of Rs 197-207 apiece.
The issue was overall subscribed 69.79 times, with the quota for qualified institutions getting a subscription 84.32 times, whereas non-institutional bidders’ and retail investors’ portions were subscribed 43.97 times and 61.77 times, respectively.
DCX System is engaged in the business of system integration in areas of defence radar systems, sensors, electronic warfare, missiles, and communication systems.
In 2020, the company commissioned a new manufacturing facility at the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru, Karnataka.
