Cyient DLM IPO to hit Street on June 27: Issue price, lot size, listing date, and other key things to know

The initial public offering (IPO) of Cyient DLM Ltd, a subsidiary of IT company Cyient Ltd., will open for subscription on June 27 and close on June 30, 2023. The company will raise Rs 740 crore through the IPO, which will be utilised for funding incremental capital requirements, capital expenditure, debt payment, achieving inorganic growth through acquisitions, as well as general corporate purposes.

The initial share sale is purely a fresh issue of equity shares with no Offer-For-Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP). Axis Capital and JM Financial are the book-running lead managers for the issue.

Cyient DLM IPO: Price band 

The company has fixed its price band at Rs 250–265 apiece to raise as much as Rs 592 crore.

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Cyient DLM IPO: Allotment date and link 

The allotment of shares will be tentatively done on July 5. The official registrar of the Cyient DLM IPO is Kfin Technologies Limited.

Cyient DLM IPO: Listing date 

The equity shares of the company will be listed on the NSE and BSE tentatively on July 10.

Cyient DLM, a subsidiary of Cyient, is the leading integrated EMS and solutions provider with a focus on the entire life cycle of a product, including design, build, and maintenance. It has three state manufacturing facilities in Hyderabad, Bengaluru, and Mysore.

India's EMS industry is a sizable one, contributing 2.2 per cent (USD 20 billion) of the global EMS market in 2022. India's EMS industry is the fastest growing among all countries at a CAGR (Compound Annual Growth Rate) of 32.3 per cent and is expected to contribute 7 per cent (USD 80 billion) of the global EMS market in 2026, as per the draft papers.

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