DCX Systems files DRHP with SEBI for Rs.600 crore IPO

डीसीएक्स सिस्टीम्सने आता प्रस्तावित आयपीओसाठी सेबीकडे ड्राफ्ट रेड हेरिंग प्रॉस्पेक्टस (डीआरएचपी) दाखल केले आहे. कंपनी नवीन इश्यू आणि ऑफर फॉर सेल (OFS) च्या मिश्रणाद्वारे IPO मध्ये जवळपास ₹600 कोटी उभारण्याचा विचार करेल.

डीआरएचपी दाखल केल्यानंतर सेबीच्या मंजुरीसाठी लागणारा सामान्य वेळ 2-3 महिने आहे, कोणताही मोठा आक्षेप नसल्याचे गृहीत धरले जाते. यासाठी मंजुरी IPO या वर्षी जून किंवा जुलैमध्ये तार्किकरित्या येऊ शकते.

The Rs.600 crore of DCX Systems IPO will comprise of Rs.500 crore by way of a fresh issue of shares and an offer for sale (OFS) of up to Rs.100 crore by early shareholders and the promoters of the company.

दोन प्रमोटर संघटना (एनसीबीजी होल्डिंग्स इंक आणि व्हीएनजी टेक्नॉलॉजी प्रा. लि.) ओएफएसमध्ये प्रत्येकी ₹50 कोटीचे शेअर्स विकतील. प्री-आयपीओ आधारावर, या दोन्ही प्रमोटर्सकडे डीसीएक्स सिस्टीम लि. मध्ये प्रत्येकी 44.32% भाग आहे.

₹500 कोटीच्या नवीन जारी उत्पन्नाच्या वापरासंदर्भात, कंपनी कर्ज परतफेड करण्यासाठी जवळपास ₹120 कोटी वापरेल. That would defray a little over one-fourth of the total debt of Rs.452 crore of DCX Systems.

In addition, it will use Rs.200 crore towards financing its working capital requirements and another Rs.45 crore for funding its capital expenditure. The capex is for its subsidiary (RASPL) to set up electronic manufacturing services (EMS).

DCX Systems is one of the leading Indian players in the manufacture of specially designed electronic sub-systems and cable harnesses in terms. The company is primarily engaged in system integration and manufacturing of the complete range of cables and wire harness assemblies.
 

In addition, DCX Systems is also involved in kitting. DCX currently has 26 customers spread across Israel, the US, South Korea, apart from the domestic Indian market.

DCX has its manufacturing facility in Hi-Tech Defence and Aerospace Park SEZ in Bengaluru, which is spread over an area of 30,000 SFT.

Some of its key customers include Elta Systems, Israel Aerospace Industries, Bharat Electronics, Astra Rafael Comsys, Alpha-Elsec Defense and Aerospace Systems, Alpha Design Technologies, Astra Microwave, SFO Technologies and DCX-Chol Enterprises Inc. Its clients include a number of Fortune 500 companies.

DCX has an impressive order book of Rs.2,499 crore and has established a reputation for operational efficiency, timely delivery, stringent quality control and product security. This has helped DCX nurture long-term relationships with OEM customers.

For the 9 months to Dec-21, DCX Systems reported total revenues of Rs.728.23 crore and net profits of Rs.33.20 crore. This implies a net profit margin of 4.4%. Revenues have grown 32.8% on YoY basis.

The issue will be lead managed by Edelweiss Financial Services, Axis Capital and Saffron Capital Advisors; who will also be the book running lead managers (BRLMs) to the issue. Link Intime India Private Ltd will be the registrars to the IPO. The stock would be listed on the NSE and on the BSE.