Cyient DLM IPO: Opening June 27; Explore all the details
Cyient DLM Limited, a subsidiary of the renowned IT firm Cyient, is set to embark on a thrilling journey with its ₹740 crore initial public offering (IPO). The IPO subscription period will commence on June 27 and conclude on June 30, marking a significant milestone for the company.
In a recent filing with the Bombay Stock Exchange (BSE) on June 20, Cyient announced that the Draft Red Herring Prospectus (DRHP) received approval from the Registrar of Companies in Telangana on the same day.
Cyient stated, “The IPO will open for public subscription on Tuesday, June 27, 2023, and close on Friday, June 30, 2023. Additionally, we would like to inform you that the price band for the IPO, determined by Cyient DLM in collaboration with the book-running lead managers, will be disclosed at least two working days before the opening date of the issue.”
According to the DRHP provided by Cyient DLM, the IPO represents a fresh issue of ₹740 crore, with each equity share having a face value of ₹10. As this is a fresh issue without any offer for sale, the entire proceeds from the IPO can be utilized by the company.
To facilitate the bidding process, the bid-cum-application forms available on the stock exchanges’ websites will come pre-filled with the Price Band and relevant financial ratios computed at both the floor price and cap price.
Axis Capital and JM Financial have been appointed as the lead book-running managers for the IPO, while KFin Technologies Limited will serve as the registrar of the issue.
It is important to note that the jurisdiction for any matters relating to this IPO will rest with the courts of Mumbai, India.
As per a comprehensive report by Frost & Sullivan, Cyient DLM has established itself as a prominent integrated EMS and solutions provider. The company excels in managing the entire life cycle of a product, encompassing design, construction, and maintenance.
The DRHP stated, “With more than two decades of experience, we are recognized as a trusted supplier to global OEMs operating in the aerospace and defense, medical technology, and industrial sectors. As one of the few EMS companies in India catering to highly regulated industries, we proudly hold the distinction of being the largest supplier of EMS services to the aerospace and defense industry in India, in terms of value.”
Investors now have a remarkable opportunity to participate in the Cyient DLM IPO, which promises exciting prospects for growth and success. The IPO’s opening on June 27 heralds a new chapter for Cyient DLM, and interested individuals are eagerly awaiting the detailed price band announcement that will accompany this extraordinary event.
About Cyient DLM:
Cyient is a renowned worldwide company specializing in engineering and technology solutions. We collaborate with customers throughout their entire value chain, assisting them in the design, construction, operation, and maintenance of their products and services. Our expertise enables customers to develop and sustain their leadership positions and establish reputable brands in their respective industries and markets. Customers rely on Cyient’s profound knowledge in engineering, manufacturing, and digital technology to deliver and uphold cutting-edge solutions that meet the most stringent criteria of safety, reliability, and performance.
For more of the Latest News, Click Here