Cyient DLM is selling its shares at a price range of Rs 250-265 per share, with a lot size of 56 equity shares. The sale will end on Friday, June 30.
Investors bid for 5,88,34,048 equity shares, or 4.41 times, according to BSE statistics, compared to the 1,33,32,297 equity shares offered for subscription by 12 noon on Wednesday, June 28, 2023 (Day 2).
- Cyient DLM’s Rs 592 crore initial public offering (IPO) continued to witness significant interest from investors on the second day of the bidding process.
- The allocation for individual investors was filled 15.91 times, while the allocation for non-institutional bidders was filled 6.20 times.
- Only 4% of the allocations were reserved for qualified institutional bidders, while 62% were reserved for employees.
- The issue was completed in a little more than three hours on day one, with an overall subscription of 2.65 times.
“Over the FY 21-23 period, Cyient DLM’s revenue growth lags peers at 15% CAGR, but its strong order book provides decent visibility of accelerated growth in the future.”
With Cyient’s solid parentage and a long history of industry competence, an experienced Board and senior management team, and a subscribe tag, the firm is well prepared to cater to possibilities in the sector,” stated Hem Securities.
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