Cyient DLM mobilizes Rs 260 crore ahead of IPO from anchor investors

27 Jun 2023 , 09:16 AM

Cyient DLM, an Electronic manufacturing services and solutions company has raised Rs 259.64 crore from anchor investors ahead of the opening of IPO on June 26. 

In the exchanges filing, company said that it has finalised the allocation of 97,98,113 equity shares to anchor investors at an issue price of Rs 265 per share, the upper price band. 

Prominent investors, including Societe Generale, BNP Paribas Arbitrage, Amansa Holdings, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, DSP India, Tata Mutual Fund, LIC MF, Catamaran Ekam, and Kotak Mutual Fund, among others, participated in the company’s anchor book investment.

The IPO will be opening for subscription today, June 27 and will conclude on June 30. Click here to subscribe the IPO.

As per DRHP, the company will use its net proceeds towards funding incremental working capital requirements of the company, funding capital expenditure, funding the repayment/prepayment of borrowings and for achieving inorganic growth through acquisition as well as for general corporate purposes.

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