DCX Systems IPO subscription opens today: Check price band, allotment date and listing date on NSE, BSE

DCX Systems has fixed the price band for the offer between Rs 197 and Rs 207 per share, having a face value of Rs 2 each.

After the IPO, DCX Systems IPO promoter holding will reduce to 73.58 per cent from 98.20 per cent.

DCX Systems IPO Price Band, Share Price, Allotment Date, Listing Date: DCX Systems (DCX) Initial Public Offering (IPO) will open for subscription from today, October 31. The Bengaluru-based company is one of the leading manufacturers of electronic sub-systems and cable harnesses in the country. The public subscription of Rs 400 crore initial share sale of DCX Systems will close on November 2. The company has cut the size of its fresh issue of equity shares to Rs 400 crore from Rs 500 crore planned earlier.

DCX Systems IPO Price Band

DCX Systems has fixed the price band for the offer between Rs 197 and Rs 207 per share, having a face value of Rs 2 each. A retail investor can bid for a minimum of 1 lot of 72 shares which would cost Rs 14,904. A retail investor is allowed to bid for a minimum of 13 lot (13 x 72 = 936 shares) which would cost Rs 193,752.

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After the IPO, DCX Systems IPO promoter holding will reduce to 73.58 per cent from 98.20 per cent.

DCX Systems IPO Allotment Date

DCX Systems IPO allotment will be finalised on November 7. The refund will be initiated on November 9. DCX Systems shares will be credited to the Demat account of investors on November 10.

DCX Systems Shares Listing Date

DCX Systems shares will list on NSE and BSE. DCX Systems shares listing date is November 11.

According to DCX Systems, it has raised Rs 225 crore from anchor investors days ahead of its IPO. The company has decided to allocate over 1.08 crore equity shares to anchor investors at Rs 207 apiece, aggregating the transaction size to Rs 225 crore, according to a circular uploaded on BSE website. HDFC Mutual Fund, Motilal Oswal Mutual Fund and BNP Paribas Arbitrage are among the anchor investors.

The company proposes to utilise the net proceeds from the issue towards debt payment, funding working capital requirements, investment in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure expenses and general corporate purposes.

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