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Shares of DCX Systems ended 48 per cent above their IPO price during their stock market debut on Friday. They finished at Rs 307 as against the issue price of Rs 207. The stock hit a high of Rs 319.9 and a low of Rs 287 on the National Stock Exchange, where shares worth Rs 1,090 crore changed hands.
The strong debut follows a huge response to the company’s IPO, which saw nearly 70 times more demand than the shares on offer. DCX’s IPO consisted of a fresh fundraise of Rs 400 crore and an offer for sale worth Rs 100 crore. DCX’s is a leading manufacturer of electronic sub-systems and cable harnesses. At the last close, the company was valued at nearly Rs 3,000 crore.
In FY22, the company had clocked sales of Rs 1,102 crore and net profit of Rs 66 crore. “DCX has better revenue and PAT growth (CAGR of 57%/159% respectively) over two years, healthy return on equity and company also has a strong order book (of Rs 2,564cr) which provides visibility for next two years,” AngelOne had said in its IPO note.
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First Published: Fri, November 11 2022. 19:47 IST
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