Cyient DLM IPO: The current week has proved to be beneficial for new IPOs in the stock market and the public issue is getting good response. Today Cyient DLM’s IPO got completely sold out within hours of opening for subscription. Especially small investors have taken a lot of interest in this IPO. Cyient DLM’s IPO was flooded by 1.1 times on the first day. This issue can be subscribed from June 27 to June 30, Friday. In this IPO, the company has offered 1,33,32,297 shares against which bids have been received for 1,47,75,936 shares. Ideaforge’s IPO opened yesterday which has received a very good response.
On the first day of the IPO of Cyient DLM, the issue received a good response from retail investors. There has been an overall positive response from employees and non-institutional investors as well. Retail investors subscribed 4.62 times while employees subscribed 15 per cent. The share of non-institutional investors was 1.14 times and that of qualified institutional investors (QIBs) was 1 per cent. 23,08,000 shares have been offered for retail investors’ stake, against which 1,06,55,568 shares were bid.
The Cyient DLM IPO saw 97,776 bids for employee shares while 6,38,297 shares were offered. Bids were placed for 39,39,264 shares by non-institutional investors while 34,62,000 shares were offered for sale.
The company has distributed 97,98,113 shares to anchor investors at a price of Rs 265 per share. Its anchor investors include Nippon Life India Smallcap, ICICI Prudential, HDFC Mutual. Fund, Tata Infrastructure Fund, Societe Generale, LIC Mutual Fund, DSP India, Aditya Birla Sunlife, Edelweiss Mutual Fund. Fund, Catamaran EKAM, Vikas India etc.
Rs 592 crore will be raised in Cyient DLM IPO for which the company will issue 2.23 crore new shares. The company is valued at Rs 2,000 crore at the upper price band of the issue. For the Cyient DLM IPO, retail investors can apply for a maximum of 13 lots, each lot consisting of 56 shares. In this IPO, the company has reserved 10% shares for retail investors, 15% for NII and 75% for QIBs. Apart from this, a discount of Rs 15 per share has been given to the employees. JM Financial and Axis Capital are the lead managers to the public issue while Caffeine Technologies is the registrar.