DCX Systems Limited IPO Detail

DCX Systems Limited is among the leading Indian players in the manufacture of electronic sub-systems and cable harnessesThe company commenced operations in 2011 and has been a preferred Indian Offset Partner (“IOP”) for foreign original equipment manufacturers (“OEMs”) for executing aerospace and defence manufacturing projects.

In 2020, the company commissioned a new manufacturing facility at the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru, Karnataka.

As of June 30, 2022, DCX Systems had 26 customers in Israel, the United States, Korea and India, including certain Fortune 500 companies, multinational corporations and start-ups. The company’s customers include domestic and international OEMs, private companies and public sector undertakings in India across different sectors, ranging from defence and aerospace to space ventures and railways.

DCX System’s key customers include Elta Systems Limited, Israel Aerospace Industries Limited – System Missiles and Space Division, Bharat Electronics Limited, and Astra Rafael Comsys Private Limited, among others

In Fiscal 2020, 2021 and 2022 and in the three months ended June 30, 2021, and June 30, 2022, DCX Systems’ revenue from operations was Rs. 4,492.62 million, Rs. 6,411.63 million Rs. 11,022.73 million, Rs. 1,229.14 million and Rs. 2,132.54 million, respectively.

The company’s business verticals:

1. System integrationin areas of radar systems, sensors, electronic warfare, missiles, and communication systems.

2. Cable and Wire Harness Assemblies.

3. The company supplies assembly-ready kits of electronic and electro-mechanical parts.

Company Financials

Period EndedTotal Assets (Crore)Total Revenue(Crore)Profit After Tax(Crore)Total Borrowing(Crore)

Objects of the Issue

The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:

1. Repayment/ prepayment, in full or part, of certain borrowings availed of by the Company.

2. Funding working capital requirements of the Company.

3. Investment in our wholly owned Subsidiary, Raneal Advanced Systems Private Limited, to fund its capital expenditure expenses.

4. General corporate purposes.

DCX Systems IPO Details

IPO DateOct 31, 2022 to Nov 2, 2022
Listing Date[.]
Face Value₹2 per share
Price₹197 to ₹207 per share
Lot Size72 Shares
Issue Size[.] shares of ₹2
(aggregating up to ₹500.00 Cr)
Fresh Issue[.] shares of ₹2
(aggregating up to ₹400.00 Cr)
Offer for Sale[.] shares of ₹2
(aggregating up to ₹100.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
QIB Shares OfferedNot less than 75% of the Offer
NII (HNI) Shares OfferedNot more than 15% of the Offer
Retail Shares OfferedNot more than 10% of the Offer
Company PromotersNCBG Holdings Inc and Vng Technology Private Limited are the company promoter.

DCX Systems IPO Tentative Timetable

DCX Systems IPO opens on Oct 31, 2022, and closes on Nov 2, 2022. The DCX Systems IPO bid date is from Oct 31, 2022 10.00 A.M. to Nov 2, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

EventTentative Date
Opening DateOct 31, 2022
Closing DateNov 2, 2022
Basis of AllotmentNov 7, 2022
Initiation of RefundsNov 9, 2022
Credit of Shares to DematNov 10, 2022
Listing DateNov 11, 2022

DCX Systems IPO Lot Size

The DCX Systems IPO lot size is 72 shares. A retail-individual investor can apply for up to 13 lots (936 shares or ₹193,752).

Retail (Min)172₹14,904
Retail (Max)13936₹193,752
S-HNI (Min)141,008₹208,656
B-HNI (Min)684,896₹1,013,472

DCX Systems IPO Promoter Holding

Pre Issue Share Holding98.20%
Post Issue Share Holding73.58%

DCX Systems IPO Review

Off late, we are witnessing rising fancy for defence counters and even the Government of India has mooted many initiatives to boost this sector. With “Make in India”, “Atmanirbhar Bharat”, and other liberalized policies, DCXSL – the most preferred Indian offset partner – is poised for bright prospects. Based on its financial performance, the issue appears reasonably priced. Investors may consider investing in this issue for the medium to long-term rewards.

Company Contact Information

DCX Systems Limited
Aerospace SEZ Sector, Plot Numbers 29,30 and 107,
Hitech Defence and Aerospace Park, Kavadadasanahal
Village, Devanahalli Taluk, Bengaluru Rural 562110
Phone: +91 80 6711 9555 / 9535
Email: cs@dcxindia.com

DCX Systems IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: dcxsystems.ipo@linkintime.co.in

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