24 News Hour-News Matters
24 News Hour-News Matters
  • Home
  • Business
  • Education
  • Entertainment
  • News Update
  • Others
    • Technology
    • Health & Lifestyle
  • Privacy Policy
  1. Home
  2. Business
  3. SEBI approves DCX Systems Limited IPO
Business

SEBI approves DCX Systems Limited IPO

DCX Systems Limited, a leading Indian player for the manufacture of electronic sub-systems and cable harnesses in terms of manufacturing capability and revenue in Fiscal 2021, as per Frost & Sullivan, has received SEBI’s approval to raise Rs.600 crore through an Initial Public Offering (IPO)..

The Bengaluru-based Company had filed the draft red herring prospectus (DRHP) with SEBI in April this year, and it obtained an “observation” letter from SEBI on July 5, 2022, as per the update on SEBI website. In SEBI’s parlance, its observation implies its approval to float an IPO.

According to the DRHP, the initial Public Offering of DCX Systems comprises fresh issue of equity shares aggregating up to Rs. 500 crore and an offer for sale of equity shares aggregating up to Rs. 100 crore by promoters – NCBG Holdings Inc and VNG Technology.

The company proposes to utilise the net proceeds from the fresh issue towards Repayment/ prepayment, in full or part, of certain borrowings availed of by it; Funding working capital requirements; Investment in its wholly owned Subsidiary, Raneal Advanced Systems Private Limited, to fund its capital expenditure expenses; and General Corporate purposes.

The Book Running Lead Managers to the offer are Edelweiss Financial Services Ltd, Axis Capital Ltd and Saffron Capital Advisors Pvt Ltd.

Previous post
Next post

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • JUNIPER GREEN ENERGY FILES DRHP WITH SEBI FOR UP TO Rs.3000 CRORE IPO
  • Tenneco Clean Air India Limited files DRHP with SEBI for an IPO
  • Ready to steal the show from your favourite club? Meet the Croma 100W Karaoke Machine!
  • Monali from Madhya Pradesh and Meenakshi from Chhattisgarh to Become Doctors After Free Coaching in Kota
  • Luminous Power Technologies introduces NXIA Utility String Inverter Series
Latest News
Business

JUNIPER GREEN ENERGY FILES DRHP WITH SEBI FOR UP TO

July 5, 2025
Business

Tenneco Clean Air India Limited files DRHP with SEBI for

July 5, 2025
Business

Ready to steal the show from your favourite club? Meet

July 5, 2025
Education

Monali from Madhya Pradesh and Meenakshi from Chhattisgarh to Become

July 4, 2025
Copyright © 2025 Qoxag. All Right Reserved.