DCX Systems IPO Subscription: Day 1 Live Updates
DCX Systems IPO Subscription: Day 1 Live Updates
Follow the latest subscription updates from day 1 of DCX Systems IPO.
DCX Systems Ltd. is set to launch its Rs 500-crore initial public offering on Oct. 31, even as the market remains volatile.The defence equipment manufacturer will offer fresh shares worth Rs 400 crore and sell Rs 100 crore shares through an offer for sale at a price band of Rs 197-207 apiece.The sale of shares, at the higher end of the price band, will fetch Rs 400 crore for the company.The issue represents 25% of the company's equity capital following the offering.At the upper end of the price range, the company is worth Rs 2,002 crore.The company has raised nearly Rs 225 crore from anchor investors. It allotted 1.08 crore shares to anchor investors for Rs 207 apiece, it said in a statement.Anchor investors include Motilal Oswal Financial Services Ltd, Housing Development Finance Corporation Ltd., BNP Paribas, Quantum State Investment and India SME Investments.Continue Reading. Read more on Markets by BloombergQuint.