DCX Systems IPO: DCX Systems has filed its application with SEBI to raise Rs 600 crore through IPO. In this IPO, there will be a fresh issue of Rs 500 crore while there will be an offer for sale of Rs 100 crore. Through this offer for sale, the existing shareholders and promoters of the company will sell their stake.
In the offer for sale, NCBG Holdings Inc and VNG Technology will sell their shares worth Rs 50 crore each. Presently, these promoters hold 44.32 per cent stake in the company.
The company will use Rs 120 crore out of the money raised from the IPO to repay the debt. Let us inform that as of 28 February 2022, the total debt of the company was Rs 451.51 crore.
The company will use Rs 200 crore from the IPO to meet its working capital requirements for FY2023, while Rs 44.90 crore will be used for the expansion plan of the company’s subsidiary Raneal Advanced Systems PVt Ltd, an electronic manufacturing services company. The unit is going to be installed.
Edelweiss Financial Services Ltd, Axis Capital Ltd and Saffron Capital Advisors Pvt Ltd are the Book Running Lead Managers of this IPO.
The company is one of the leading manufacturers of electronic sub-systems and cable harnesses in India. The company operates through its manufacturing unit located at Hi-Tech Defense and Aerospace Park SEZ, Bangalore. The unit is spread over an area of 30,000 sq.
As of December 2021, the company had 26 customers in countries like Israel, USA, Korea and India. Some of these customers are included in Fortune 500 companies. Apart from this, many multinational companies and startups are in the company’s customer list. The order book of the company as on 28 February 2022 was Rs 2499.30 crore.
The company’s income for the nine months ended December 2021 was Rs 728.23 crore as against Rs 548.49 crore in the same period last year. The company’s profit during this period stood at Rs 33.20 crore as against Rs 28.29 crore in the same period last year.