DCX Systems Ltd IPO posts a stellar listing performance

DCX Systems Ltd had a strong listing on 11th November 2022, listing at a premium of 38.65%, and closing the day well above the listing price. While the stock did show some bouts of volatility during the day, it closed the day well above the IPO price as well as the listing price. With overall subscription of 69.79X and QIB subscription at 84.32X, the listing was expected to be strong. Here is the DCX Systems Ltd listing story on 11th November 2022.

The IPO price was fixed at the upper end of the band at Rs.207 considering the 69.79X overall subscription. The price band for the IPO was Rs.197 to Rs.207. On 11th November 2022, the stock of DCX Systems Ltd listed on the NSE at a price of Rs.287, a premium of 38.65% above the issue price of Rs.207. On the BSE also, the stock listed at Rs286.25 a premium of 38.29% on the issue price.

On the NSE, DCX Systems Ltd closed on 11th November 2022 at a price of Rs.307.35, a first day closing premium of 48.48% on the issue price of Rs207. On the BSE, the stock closed at Rs.308.80, a first day closing premium of 49.18% on the issue price and a premium of 7.88% over the listing price. On both the exchanges, the stock not only listed above the IPO issue price but closed at a substantial premium to the IPO discovered price as well as to the listing price, showing a lot of pricing traction on the first day of listing.

On Day-1 of listing, DCX Systems Ltd touched a high of Rs.319.90 on the NSE and a low of Rs.287. In short, the stock never dipped below the listing price and always stayed above that. The premium held through the day. On Day-1 of listing, the DCX Systems Ltd stock traded a total of 362.71 lakh shares on NSE amounting to value of Rs.1,090.50 crore. With volumes of more than Rs1,000 crore in rupee terms, the company has seen substantial volumes on the first day of trading with a good deal of speculative volumes too.

On the BSE, DCX Systems Ltd touched a high of Rs.319.75 and a low of Rs.286.25. Even on the BSE< the stock never really went below the listing price on the day. On the BSE, the stock traded a total of 21.19 lakh shares amounting to value of Rs.63.60 crore. If you look at the BSE trading pattern on the 11th November 2022, then the stock of DCX India was ranked 11th in terms of total stock volumes or turnover for the day.

At the close of Day-1 of listing, DCX Systems Ltd had a market capitalization of Rs.2,986.83 crore with free-float market cap of Rs.418.16 crore.