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Cyient DLM Ltd makes a stellar debut on BSE and NSE bourses with an overall subscription of more than 67 times

Posted By: Sachin Murdeshwar July 10, 2023

Dr. B.V.R Mohan Reddy, Founder of Cyient and Non-Executive Director, Cyient DLM Limited addressing the gathering during Cyient DLM Ltd Listing Ceremony at NSE – Photo By GPN

Mr. Krishna Bodanapu, Chairman and Non-Executive Director, Cyient DLM Limited addressing the gathering during Cyient DLM Ltd Listing Ceremony at NSE – Photo By GPN

(L-R): Mr. Prabhakar Atla (Chief Financial Officer, Cyient Limited), Mr. Shailendra Nair (Associate Vice President, Cyient Limited), Dr. B.V.R Mohan Reddy (Founder of Cyient and Non-Executive Director, Cyient DLM Limited), Mr. Krishna Bodanapu (Chairman and Non-Executive Director, Cyient DLM Limited), Shri. Ashishkumar Chauhan (MD & CEO, NSE), Ms. Vanitha Datla (Independent Director, Cyient DLM Limited) and Mr. Shrinivas Kulkarni (Chief Financial Officer, Cyient DLM Limited) during Cyient DLM Ltd Listing Ceremony at NSE – Photo By GPN

Cyient DLM Ltd Listing Ceremony held today at NSE today, 10th July – 2023

MUMBAI, 10 JULY, 2023 (GPN): Cyient DLM shares made a strong debut in the secondary market on Monday, July 10, after the electronic manufacturing services firm’s IPO concluded last month with an overall subscription of more than 67 times the equity on offer. The stock began its journey in the listed world at Rs 401 apiece on BSE — a premium of 51.3 per cent over the upper end of the IPO price range.

The stock started off the first trade at Rs 401 on the BSE against the issue price of Rs 265 a share.

Healthy fundamentals with a strong order book of Rs 2,432.5 crore, as of March FY23, and policy tailwinds for the EMS sector, especially in digital manufacturing, also boosted stock performance.

The Rs 592-crore IPO of Cyient DLM Ltd was subscribed over 67 times during the bidding period from June 27 to June 30. Qualified institutional buyers bought shares more than 90 times the portion set aside for them. Retail investors and high-networth individuals bid 49.22 times and 45.05 times their allotted quotas.Ends

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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