DCX Systems shares see strong listing. Should you buy/hold/sell?

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DCX Systems shares today made their debut on Dalal Street at a strong listing premium of nearly 38%. The public issue listed at 286.25 apiece on BSE, as compared to issue price of 207 per equity share. DCX share price is currently quoting 289.10 apiece after making its intraday high of 299 per share on BSE.

Advising long-term investors to hold DCX shares, Ravi Singh, Vice President & Head of Research at Share India said, “The growing Indian landscape for defence and aerospace may serve as a key opportunity for DCX Systems and holds a positive outlook. Investors may consider DCX Systems shares from long term perspective.”

Astha Jain, Senior Research Analyst at Hem Securities said, “We recommend to book partial profit and hold remaining allotment as company being among the preferred Indian Offset Players for the defence and aerospace industry with global accreditations has technology enabled and scalable end-to-end capabilities. Company is well-positioned to capitalize on industry tailwinds has track record of consistent financial performance along with experienced and qualified Promoters.”

In three days bidding from 31st October 2022 to 2nd November 2022, DCX Systems IPO subscribed 69.79 times whereas its retail portion was subscribed 61.77 times. In QIB category, the public issue was subscribed 84.32 times while in NII segment, the public issue got subscribed 43.97 times.

DCX Systems IPO consists of issuance of fresh equity shares worth 400 crore. Apart from the fresh issue, the promoters and shareholders of the company sold shares worth 100 crore via an offer for sale (OFS). NCBG Holdings and VNG Technology are the promoters of the company.

The Bengaluru-based company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies, and are also involved in kitting.

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