DCX Systems on Friday said it has raised Rs 225 crore from anchor investors.
New Delhi:
The initial public offering of DCX Systems, a manufacturer of cable and wire harness assemblies, received 69.79x subscriptions on the last day today.
According to NSE data, the IPO received bids for 101.27 crore shares against 1.45 crore shares.
Qualified Institutional Buyers (QIBs) were subscribed 84.32 times, while Retail Individual Investors (RII)’s share was subscribed 61.77 times and the quota of non-institutional investors 43.97 times.
The offer included a fresh issue of up to Rs 400 crore and a sale offer of up to Rs 100 crore.
Its price range was Rs 197-207 per share.
DCX Systems on Friday said it has raised Rs 225 crore from anchor investors.
The company proposes to use the net proceeds from the new issue for its capital expenditure and general corporate purposes for debt payments, financing working capital requirements, investment in its wholly owned subsidiary Ranell Advanced Systems.
The Bengaluru based company is primarily engaged in System Integration and manufacturing of a wide range of Cable & Wire Harness Assemblies, and is also involved in Kiting.
Edelweiss Financial Services, Axis Capital and Saffron Capital Advisors were the managers of the offer.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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