dcx systems raises rs 225 crore via anchor book ahead of ipo

Representative image.

DCX Systems, the electronic sub-systems and cable harnesses manufacturer, has mopped up Rs 225 crore through its anchor book on October 28, ahead of the public issue opening.

Total 12 investors participated in the anchor book.

“….has finalised allocation of 1.08 crore equity shares to anchor investors at a price of Rs 207 per share, the upper end of price band,” DCX said in its BSE filing.

Investors including Volrado Venture Partners Fund, Cohesion MK Best Ideas, Quantum State Investment Fund, India SME Investments, Theleme India Master Fund, Resonance Opportunities Fund, Vikasa India EIF I Fund, and BNP Paribas Arbitrage made investment in the company via anchor book.

The company said out of total allocation to anchor investors, 36.23 lakh equity shares were allocated to two domestic mutual funds -HDFC Mutual Fund, and Motilal Oswal Mutual Fund. These funds invested nearly Rs 75 crore in DCX Systems via anchor book.

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DCX Systems is set to launch its IPO for public on October 31, with a price band of Rs 197-207 per share. The offer will close on November 2.

The company is planning to raise Rs 500 crore through its public issue that comprises a fresh issue of Rs 400 crore and an offer for sale of Rs 100 crore by selling shareholders.

The fresh issue money will be utilised by the company for repaying debts, working capital requirements, capex of its subsidiary Raneal Advanced Systems, and general corporate purposes.

Also read – Four IPOs aim to raise over Rs 4,500 crore next week

Keyword: DCX Systems raises Rs 225 crore via anchor book ahead of IPO

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