Cyient DLM IPO subscribed fully on day, retail portion subscribed 7 times

27 Jun 2023 , 03:57 PM

The initial public offer (IPO) of Cyient DLM has received positive response from retail, and overall decent response from employees, and non institutional investors (NIIS). 

By 3.45 pm, the IPO received bids amounting to 1.91 times the total shares on offer. The retail portion of the IPO garnered a subscription rate of 7.51 times, indicating strong interest from retail investors. The Non-Institutional Investors (NIIs) portion received bids equal to 2.27 times, while employees portion received 0.23 times the shares available for subscription.

The total number of bids received was 2,55,76,712 while the number of shares available for subscription was 1,33,32,297, as per BSE data.

The company has set the price range for the IPO at Rs 250 to 265 per share. Before the IPO, Cyient DLM secured Rs 259.64 crore from 20 anchor investors. Additionally, eight domestic mutual funds have applied under eleven different programs to participate in the IPO.

JM Financials and Axis Capital have been appointed as the lead managers for the issue. Kfin Technologies has been entrusted with the responsibility of serving as the IPO registrar.

Cyient DLM IPO important details:

Open date	27 June 2023
Close date	30 June 2023
Lot size	56 shares
IPO size (Rs crore)	Rs 592 crore
IPO price range (Rs)	Rs 250-265 per share
Minimum investment	Rs 14,840
Basis of allotment date	5 July 2023
Refunds date	6 July 2023
Credit to demat account date	7 July 2023
Listing date	10 July 2023