Cyient DLM is likely to finalize the basis for the allotment of its equity shares for its IPO on July 5th, 2023. The investors received a robust response during the three-day bidding process for the electronic manufacturing services company's initial public offering.
Cyient DLM, established in 1993, provides Electronic Manufacturing Services EMS as a build to print B 2 P and build to specification B 2 S services including product design, and flexible manufacturing services tailored to meet their specific requirements.
The EMS company's IPO received a strong response from investors and was overall subscribed 71.35 times. The product is available for subscription from 27th June to 30th June in the price range of Rs 25 - $265 per share. Cyient DLM remained steady in the grey market and was commanding a premium of Rs 125 per share.
The quota reserved for qualified institutional bidders QIBs was subscribed 95.87 times, while the portion for non-institutional bidders NIIs was booked 47.75 times. The retail investor portion of the transaction was subscribed 52.17 times, while the portion for employees was booked only 2.60 times.
Cyient DLM's core solutions encompass a variety of key components, such as printed circuit board assembly, cable harnesses, and box builds. The safety of critical systems is crucially linked to these components. ABB Inc., Bharat Electronics, Honeywell International, Thales Global Services, ABB Inc, and Molbio 152 Diagnostics among other key customers.
The issue has generated a favorable response from analysts who have suggested subscribing to the issue owing to a niche business sector, strong growth outlook and sound promoter background. A few have flagged muted margins, losing profits and reliance on key clients as the biggest concerns.
Investors who had bid for the issue can check the allotment status on the Bombay Stock Exchange BSE website, which is www.bseindia. On the issue type page, one can select the equity option under issue type and choose the company name from the dropbox. Then, to check for allotment status, one just needs to fill in the application number and PAN card ID.
The second option to verify the allotment status is visiting the registrar's portal, which is KFin Technologies Limited in Cyient DLM. Investors can also check the allotment status on the website of the registrar at kosmic.kfintech. com ipostatus to see if they have received the shares or not.
Bidders who could not get allotment in the IPO may see refunds on Thursday, June 06. Other investors, who would be allotted shares, may see the credit of shares in the Demat account by Friday, June 07. The IPO listing is expected to be announced on June 10th.
In Q1 growth, 5% of the growth was progressing.