Strong Debut! Cyient DLM Lists at a Premium of 52% Over the Issue Price It was listed on the BSE at INR 401, and on NSE at INR 403 today, an over 50 per cent jump on the price band initially offered.

By Paromita Gupta

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Cyient DLM, an Electronic Manufacturing Services (EMS) and solutions provider arm of Cyient, today debuted on the BSE and National Stock Exchange at a premium of 52 per cent.

It announced its initial public offering on June 22, which was slated from June 27 to June 30. The subscription was opened with a price band of INR 250-265 per Equity Share. The IPO consisted of fresh equity shares worth INR 592 crore.

It was listed on the BSE at INR 401, and on NSE at INR 403 today, an over 50 per cent jump on the price band initially offered.

At BSE, it opened at INR 401, with the highest share going at INR 426.45 and the lowest being INR 401. At the time of writing this article, its shares were at INR 422.05. Cyient DLM's m-cap sits at INR 3,347.11 crore. The Exchange reported that the shares would be listed and admitted to dealings on the exchange in the list of "B" Group Securities. By 3:30 in the afternoon, it had a total trade volume of 13,78,347 at the BSE.

At NSE, it opened at INR 403, with the highest share going at INR 427 and the lowest being INR 403. At the time of writing this article, its shares were at INR 421.75, just thirty paisa below BSE value. Cyient DLM's m-cap here sits at INR 3,344.73 crore. By 3:30 in the afternoon, it had a total trade volume of 1,98,28,547 at the NSE.

The final day of subscription saw an overall positive response from retail, qualified institutional buyers (QIBs), and non-institutional investors (NIIS). The portions were subscribed 52.17 times, 95.87 times, and 47.75 times respectively. The employee portion saw a subscription of 2.60 times.

Prior to the listing, stock market experts had placed their optimism in the shares of Cyient DLM and had expected it to open at INR 450 to INR 480 in the bullish market and between INR 400 and INR 420 in a bearish scenario.

Cyient DLM's IPO had Axis Capital Limited and JM Financial Limited as the Book Running Lead Managers, while Kfin Technologies acted as the IPO registrar.

Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 

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