The initial public offering (IPO) of DCX Systems, an electronic sub-systems and cable harnesses manufacturer, has received bids for 1.11 crore shares against an IPO size of 1.45 crore shares amounting to a subscription of 77 per cent at 1:10 pm on the first day of bidding.
The issue has a price band of Rs 197-Rs 207.
Allotment of shares will be done on November 7 and listing of the stock is likely to take place on November 11, 2022.
DCX Systems proposes to utilise the net proceeds from fresh issue towards repayment certain borrowings (Rs 110 crore).
The company started operations in 2011 and has been a preferred Indian Offset Partner ("IOP") for foreign original equipment manufacturers ("OEMs") for executing aerospace and defence manufacturing projects.
Source: BusinessToday
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