You are here: Home » Companies » News
Irdai boss signals faster regulatory reforms to boost insurance penetration
icon-arrow-left
Business Standard

DCX Systems soars 48% on debut, shares worth Rs 1,090 crore change hands

Strong debut follows huge response to IPO, which was oversubscribed nearly 70 times

Topics
Indian companies | stock markets | Stock Market

BS Reporter  |  Mumbai 



Tech Mahindra hikes by 3.4 percent, UltraTech cement falls by 1.9 percent
The strong debut follows a huge response to the company’s IPO, which saw nearly 70 times more demand than the shares on offer

Shares of DCX Systems ended 48 per cent above their IPO price during their 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.

DCX Systems soars 48% on debut, shares worth Rs 1,090 crore change hands


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Fri, November 11 2022. 19:47 IST

RECOMMENDED FOR YOU

.