Unveiling Cyient DLM: Exciting IPO to Launch on June 27 with Key Details

Rajesh
0

Cyient DLM Ltd, a subsidiary of renowned IT software sector company Cyient, is all set to open its initial public offering (IPO) for subscription on June 27, 2023. This blog post provides essential information about the IPO, including the pricing, allocation details, and the company's background.


IPO Details:

The IPO of Cyient DLM will remain open for four days, concluding on June 30, 2023. The company has set a price band of Rs 250-265 per equity share for the public offer. The IPO is a fresh issue of equity shares, amounting to approximately Rs 592 crore, allowing the company to utilize the entire proceeds.

Pre-IPO Placement:

Before the IPO, Cyient DLM undertook a pre-IPO placement of 40.75 lakh equity shares, resulting in a total of Rs 108 crore raised.

Allocation and Book-Running Lead Managers:

According to the Draft Red Herring Prospectus (DRHP), Cyient DLM's IPO consists solely of fresh issue equity shares, with no Offer-For-Sale (OFS) component. Axis Capital and JM Financial are the book-running lead managers for the IPO. The net offer will be allocated with 75% for qualified institutional bidders (QIBs), 15% for non-institutional bidders, and 10% for retail investors.

Subscription and Listing Dates:

The subscription for anchor investors will begin on June 26. The company aims to conclude the allotment of shares by July 5, with refunds expected to commence on July 6. Cyient DLM shares are anticipated to be listed on both the BSE and NSE exchanges by July 10.

Cyient DLM Ownership:

Cyient holds a significant stake of more than 92.84% in Cyient DLM.

Cyient Ltd Stock Performance & Returns:

Cyient Ltd's last trading price as of June 23, 2023, stood at Rs 1460.10 per share, witnessing a 2.18% intraday fall. The 52-week high and low prices for Cyient Ltd stock are Rs 1525.55 and Rs 724.00 per share, respectively. With a market capitalization of Rs 16,149.81 crore, Cyient shares have shown notable growth, delivering a 55% increase over the last three months, 79% return year-to-date (YTD), 85% return over the last year, 72% return over the last two years, and an impressive 470% return over the last three years. Additionally, the stock has surged by 106% over the last five years.

About Cyient Ltd:

Cyient Ltd is a globally recognized consulting-led, industry-centric technology solutions company. It empowers its clients to leverage technology creatively across their value chains to solve significant problems.

About Cyient DLM Ltd:

Cyient DLM Ltd operates as a leading digital engineering and technology company. It offers services such as design-led production, integrated and additive manufacturing, high-precision machining and assembly, and electrical engineering services to clients worldwide.

Conclusion:

Investors eagerly await the IPO of Cyient DLM Ltd, a subsidiary of Cyient, as it commences its subscription on June 27, 2023. With the IPO price band set and a fresh issue of equity shares, Cyient DLM aims to raise substantial funds for further growth and development in the digital engineering and technology sector.

Tags

Post a Comment

0Comments
Post a Comment (0)