dcx systems share price: DCX Systems makes a strong debut on Dalal Street, at a premium of 39%

New Delhi: DCX Systems made a strong debut on Dalal Street as its shares listed at Rs 286.25 on Friday, a 39% premium to its issue price of Rs 207 on BSE.

Manufacturing of electronic subsystems and wiring harnesses debuted at a 38% premium at Rs 287 over the issue price given on the National Stock Exchange (NSE).

Prior to its IPO, the company’s shares were changing hands at a premium of 88 to 90 rupees to the issue price on the gray market, suggesting a strong listing.

DCX Systems’ initial public offering was open for subscription between October 31 and November 2, 2022. The company raised Rs 500 crore via its initial stake sale by offering shares in the range of Rs 197-207 each.

The issue was globally subscribed 69.79 times, with the quota of qualified institutions obtaining subscription 84.32 times, while the shares of non-institutional bidders and retail investors were subscribed 43.97 times and 61.77 times, respectively.

DCX System is engaged in the field of system integration in the fields of defense radar systems, sensors, electronic warfare, missiles and communication systems.

In 2020, the company commissioned a new manufacturing facility in the SEZ at Hi-Tech Defense and Aerospace Park in Bengaluru, Karnataka.

Karen J. Nelson