Shares of Bengaluru-based firm DCX Systems Lts. ended with strong gains after listing at a premium to its IPO price on market debut.
The stock ended at a premium of 49.18% over the IPO price and 7.88% from its listing price, to end at Rs 308.80.
The defence equipment manufacturer's initial public offering, which opened for subscription on Oct. 31, received strong response with the issue getting subscribed 69.79 times.
The stock opened at Rs 289.80 on the National Stock Exchange, a 40% premium to its issue price of Rs 207. On the BSE Ltd., the stock debuted at Rs 289.10, a 39% premium.
The company is among the leading Indian players for the manufacture of electronic sub-systems and cable harnesses, in terms of manufacturing capability and revenue for financial year 2022 in the defence and aerospace sector.
The company has been a preferred Indian Offset Partner for foreign original equipment manufacturers for executing aerospace and defence manufacturing projects.
Also Read: DCX Systems IPO: All You Need To Know
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