Business Standard

Cable manufacturer DCX Systems' Rs 500-cr IPO to open for 3 days on Oct 31

The Rs 500-crore initial share-sale of DCX Systems, manufacturer of cables and wire harness assemblies, will open for public subscription on October 31

economy, economic reforms, policy, policies, wires, cables, growth, jobs, employment

Press Trust of India New Delhi
The Rs 500-crore initial share-sale of DCX Systems, manufacturer of cables and wire harness assemblies, will open for public subscription on October 31.
The three-day Initial Public Offering (IPO) would close on November 2, according to the Red Herring Prospectus (RHP).
The company has cut the size of its fresh issue of equity shares to Rs 400 crore from Rs 500 crore planned earlier.
Apart from fresh issue, the IPO comprises an offer for sale of equity shares to the tune of up to Rs 100 crore by promoters -- NCBG Holdings Inc and VNG Technology.
The company proposes to utilise the net proceeds from the fresh 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.
The Bengaluru-based company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies, and are also involved in kitting.
DCX Systems' revenue from operations grew at a CAGR of 56.64 per cent from Rs 449 crore in Fiscal 2020 to Rs 1,102 crore in Fiscal 2022.
The company's order book has increased from Rs 1,941 crore as of March 31, 2020 to Rs 2,369 crore as of March 31, 2022.
Edelweiss Financial Services, Axis Capital and Saffron Capital Advisors are the book running lead managers to the issue. The equity shares are proposed to be listed on both the bourses -- BSE and NSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 20 2022 | 10:16 PM IST

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