IPO watch: DCX issue subscribed nearly 70 times on strong QIB interest

The initial public offering (IPO) of DCX Systems was subscribed to 69.7 times on Wednesday, the concluding day of the issue. The institutional portion was subscribed to 84.32 times, the wealthy investor portion by 43.97 times, and the retail portion by 61.77 times. The company had priced its IPO at Rs 197-207 a share. The Rs 500 crore IPO comprised a fresh issue of Rs 400 crore and an offer for sale worth Rs 100 crore. Last week the company allotted shares worth Rs 223 crore to 12 anchor investors including BNP Paribas, Volrado Ventures, Theleme, HDFC Large & MidCap, and Motilal Oswal MF among others. DCX Systems plans to utilise the proceeds of the fresh issue for repayment of debts and funding its working capital requirements.

It also plans to fund the capital expenditure expenses of its subsidiary Raneal Advanced Systems.

Fusion microfinance subscribed 12 per cent on Day-1

The IPO of Fusion microfinance was subscribed by 12 per cent on Wednesday the first day of the issue. The institutional portion was unsubscribed, the wealthy investor portion by 23 per cent, and the retail investor portion by 14 per cent. The Rs 1,103.99 crore IPO is priced between Rs 350 to 368 per share. The company provides financial services to women entrepreneurs belonging to the economically and socially deprived sections.