DCX Systems, manufacturer of cables and wire harness assemblies, on Monday (July 1) said it has received a significant contract from Larsen & Toubro Ltd, India.
NSEThe purchase order, valued at ₹1,250 crore plus applicable taxes, involves the manufacture and supply of electronic modules.
The issue had opened on January 15 and closed on January 19, and DCX Systems had targeted to raise up to ₹500 crore equity capital through this issue.
Promoters of DCX Systems currently hold a 71% stake in the company as per the December shareholding pattern.
Also Read: Allied Blenders IPO shares may list at 20% premium but analysts advise profit booking; Here's whyShares of DCX Systems Ltd ended at ₹379.15, up by ₹17.80, or 4.93%, on the BSE.
DCX Systems, manufacturer of cables and wire harness assemblies, on Monday (July 1) said it has received a significant contract from Larsen & Toubro Ltd, India.
NSE
The purchase order, valued at ₹1,250 crore plus applicable taxes, involves the manufacture and supply of electronic modules. The company is tasked with executing the order within a three-year timeframe, it said.
"...we wish to inform that the company has received a contract/order for INR 1,250 Crore (INR One Thousand Two hundred fifty crores) plus Applicable Taxes from a reputed Indian conglomerate," the company said in a stock exchange filing.
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In January this year, DCX Systems raised ₹500 crore by issuing 1.46 crore shares to 43 qualified institutional buyers (QIBs) at a price of ₹341 per share — a discount of 4.83% to the floor price of ₹358.30 apiece.
The issue had opened on January 15 and closed on January 19, and DCX Systems had targeted to raise up to ₹500 crore equity capital through this issue. BoFa Securities, HDFC Mutual Fund, Bandhan, SBI General Insurance, and Copthall Mauritius Investment are among the investors who have been allotted more than 5% of the equity offering in the QIP issue.
The QIP issue is expected to result in an equity dilution of 9.1% on the base deal size and 15.1% on the upsized deal size, sources told CNBC-TV18 earlier. Promoters of DCX Systems currently hold a 71% stake in the company as per the December shareholding pattern.
Also Read: Allied Blenders IPO shares may list at 20% premium but analysts advise profit booking; Here's why
Shares of DCX Systems Ltd ended at ₹379.15, up by ₹17.80, or 4.93%, on the BSE.
