According to the Draft Red Herring Prospectus (DRHP), fresh shares of up to Rs 500 crore will be issued under this IPO of DCX Systems.
DCX Systems IPO: DCX Systems, one of the leading manufacturers of electronic sub-systems and cable harnesses, is going to launch its IPO. The company has filed a draft paper with the market regulator SEBI for this. The company wants to raise Rs 600 crore through this IPO. According to the Draft Red Herring Prospectus (DRHP), fresh shares of up to Rs 500 crore will be issued under this IPO. At the same time, equity shares of up to Rs 100 crore will be sold under Offer for Sale (OFS) by the promoters of the company – NCBG Holdings Inc. and VNG Technology.
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Fund will be used here
The net proceeds from the IPO will be used for debt repayment and working capital requirements. In addition, the fund will also be used for capital expenditure and general corporate purposes for investing in wholly owned subsidiary Ranial Advanced Systems. Apart from this, the company can also consider pre-IPO placements up to Rs 50 crore. If this placement is completed, the size of the new issue will be reduced.
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Know about the company
The Bangalore based company primarily manufactures a wide range of System Integration & Cables & Wire Harness Assemblies. DCX Systems’ revenue from operations grew at a CAGR of 46.22 per cent from Rs 299.87 crore in FY19 to Rs 641.16 crore in FY21. Revenue from operations stood at Rs 728.23 crore in the nine months ended December 31, 2021. The order book of the company has increased from Rs.1,042.30 crore as on March 31, 2019 to Rs.2,855.01 crore as on March 31, 2021. Edelweiss Financial Services, Axis Capital and Kesar Capital Advisors are the book running lead managers of the issue. The company’s shares will be listed on both BSE and NSE.
(Input-PTI)
