Create Post
DCX Systems IPO: Retail category fully subscribed within an hour of open. GMP, other details here
The three-day initial public offering (IPO) of DCX Systems, manufacturer of cables and wire harness assemblies, will open for public subscription on Monday, October 31, 2022 and conclude on Wednesday, November 2, 2022. The price band has been fixed at ₹197 to ₹207 per share. The shares of the company are expected to list on stock exchanges BSE and NSE on Friday, November 11, 2022. 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 and general corporate purposes. "In terms of valuations, the post-issue P/E works out which is low compared to its peers like Paras Defense & Space Technologies Ltd, Data Patterns (India) ltd and Sundram Fasteners Ltd. Further, DSL has better revenue/PAT growth (CAGR of 57%/159% respectively) over 2 years, healthy return on equity and company also has a strong order book which provides visibility for next 2 years. Thus, we recommend a SUBSCRIBE rating on the issue," said Angel One. Source - MINT
- 0
- 0
- ₹0
