Cyient DLM IPO to open on June 27; details herePersonal FinanceCyient DLM IPO to open on June 27; details here

Cyient DLM IPO to open on June 27; details here


The 740 crore initial public offering (IPO) of Cyient DLM Limited which is a subsidiary of the IT firm Cyient will open for subscription on June 27 and close on June 30.

In a BSE filing on June 20, Cyient said that the Draft Red Herring Prospectus (DRHP) was approved by the Registrar of Companies in Telangana on June 20.

“The issue shall open for subscription to the public on Tuesday, June 27, 2023, and shall close on Friday, June 30, 2023. Further, we wish to inform you that the price band for the Issue, which will be decided by Cyient DLM in consultation with the book-running lead managers, will be advertised at least two working days prior to the issue opening date,” Cyient said.

As per Cyient DLM DRHP, the IPO is a fresh issue of 740 crore and the face value of the equity shares is 10. As this is a fresh issue and there is no offer for sale, the company can use the entire proceeds of the IPO.

As per the DRHP, the Price Band, along with the relevant financial ratios calculated at the floor price and at the cap price, shall be pre-filled in the bid-cum application forms available on the websites of the stock exchanges.

Axis Capital and JM Financial are the lead book-running managers while KFin Technologies Limited is the registrar of the issue.

The courts of Mumbai, India will have exclusive jurisdiction in relation to this issue

According to Frost & Sullivan’s report, Cyient DLM is a leading integrated EMS and solutions provider with a strong focus on the entire life cycle of a product, including design, build and maintenance.

“With over two decades of experience, we are a qualified supplier to global OEMs in the aerospace and defence, medical technology and industrial sectors. We are one of the few EMS companies in India catering to highly regulated industries and the largest supplier of EMS services to the aerospace and defence industry by value in India,” the DRHP mentioned quoting Frost & Sullivan’s report.

Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.

Take the test

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Finplay.
Download Finplay News App to get Daily Market Updates.

More
Less

Updated: 21 Jun 2023, 11:31 AM IST

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




Leave a Reply

Your email address will not be published. Required fields are marked *

Finplay

AMFI-registered Mutual Fund Distributor ARN-192179

Company

© 2024 Finplay Technologies Private Limited. All Rights Reserved.