Cyient DLM IPO subscribed 4x on day 2 so far

28 Jun 2023 , 01:08 PM

The initial public offer (IPO) of Cyient DLM has received decent subscription from investors on day 2 of the offer. Click here to subscribe the IPO.

Retail investors and high-net worth individuals (non-institutional investors) have shown strong support for the IPO, submitting bids that were 17.75 times and 7.01 times the portions allocated to them, respectively. 

However, employee bids accounted for only 0.70 times the shares of their allotted quota, while qualified institutional buyers showed limited interest with bids at 0.04 times their designated portion.

The electronic manufacturing services (EMS) and solutions provider aims to raise Rs 592 crore through its IPO, which consists solely of a fresh issue of shares. The company has already received significant demand in the anchor book, raising Rs 259.64 crore on June 26, a day prior to the opening of the issue. This suggests a strong initial response from anchor investors towards the company’s IPO.