DCX Systems Raise Funds Up To Rs 500 Crore

DCX Systems has received board’s approval to raise funds up to a maximum of Rs 500 crore. This fundraising can occur in one or more tranches or issuances, simultaneously or at different times, through a variety of methods, including public offerings, preferential allotments, rights issues, private placements, qualified institutional placements, or any combination of these or any other legally permissible method. The fundraising will be carried out in accordance with the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and any other applicable laws. The terms and conditions of the fundraising will be determined by the Board of Directors at its sole discretion, subject to obtaining all necessary approvals, including shareholder approval and any other regulatory or statutory approvals required. The Board of Directors approved this fundraising at its meeting on November 16, 2023.

Incorporated in 2011, 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. The company provides end-to-end solutions of cable & wire harnesses, electronic subsystems, high-end System Integration and PCB Assembly for Defence & Aerospace Industry.

Read:Top 5 Best Defence Stocks in India

Today, the stock opened at Rs 324.95 and has touched a high and low of Rs 344.95 and Rs 318.60 respectively. The BSE group ‘B’ stock of face value Rs 2 has a 52-week high and low of Rs 351.30 and Rs 138.90, respectively. Last one week high and low of the scrip stood at Rs 344.95 and Rs 280.05 respectively. The current market cap of the company is Rs 3,220.90 crore.

The promoters holding in the company stood at 71.73%, while Institutions and Non-Institutions held 8.27% and 19.99% respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.