DCX Systems IPO day 1 performance

DCX Systems shares were in extremely high demand. The issue was subscribed a staggering 70 times during the three-day share sale via IPO that ended on November 2. All classes of investors showed a strong interest in the IPO, with the shares reserved for qualified institutional buyers (QIBs) being subscribed 84.32 times. The shares reserved for non-institutional investors (NIIs), 44 times, and the shares reserved for retail individual investors, 62 times.

75 per cent of the issue was reserved for QIBs. Also, 15 per cent for NIIs and 10 per cent for retail investors.

Confirming the DCX systems share listing date, the BSE website informs, “The equity shares of DCX Systems Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities in a Special Pre-open Session (SPOS) on Friday, November 11, 2022.”

What DCX Systems IPO GMP signals

Market watchers claim that the current IPO GMP for DCX is ₹88. Moreover, It indicates that the grey market anticipates the company’s share price to open at around ₹295 (₹207 + ₹88). Which is more than 40% from its previous price range of ₹197 to ₹207 per equity share.

The stock rose as much as 54 per cent to hit an intraday high of ₹319.90 on the NSE but settled 49 per cent or ₹101 higher at ₹308.

DCX Systems raised Rs 500 crore through its initial public offering (IPO). It included a fresh issue of Rs 400 crore. Also it included an offer for sale from its existing investor’s worth Rs 100 crore.

DCX Systems’ revenue from operations increased at a CAGR of 56.64 percent from Rs 449 crore in fiscal 2020 to Rs 1,102 crore in fiscal 2022. The order book of the firm has grown from Rs 1,941 crore on March 31, 2020 to Rs 2,369 crore on March 31, 2022.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of InvestWhat.

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