DCX Systems files Rs 600 crore IPO papers with SEBI
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DCX Systems has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 600 crore through an initial public offering (IPO). The equity shares are proposed to be listed on both the bourses, BSE and NSE.
The company proposes to utilise the net proceeds from the fresh issue towards debt payment, funding working capital requirements, investment in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure expenses and general corporate purposes. Edelweiss Financial Services, Axis Capital and Saffron Capital Advisors are the book running lead managers to the issue.
DCX Systems is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies, and are also involved in kitting.
