Cyient DLM IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jul 10, 2023Cyient DLM, a subsidiary of Hyderabad-based Cyient, a provider of technological solutions, recently made an announcement stating that they have submitted a DRHP to SEBI.
The company has submitted the necessary documents to obtain capital through the Cyient DLM IPO for several reasons. On January 10, 2023, the information entered the public domain.
The IPO will therefore happen this year even though many details may not yet be known, and this article will cover all the pertinent information to inform you about the IPO.
The following Cyient DLM IPO Review will cover all the information.
| Face Value | Rs 10 |
| Price Band | Rs 250 to Rs 265 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 56 Shares |
| Listing Date | 10 July 2023 |
| Offer for Sale | Rs NA Crore |
| Fresh Issue | Rs 592.00 Crore |
| IPO Size | Rs 592.00 Crore |
| Tick Size | 1 |
Cyient DLM IPO Overview
Cyient DLM Limited, a corporate subsidiary of Cyient Ltd., has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI).
Dated January 9, 2023, in connection with the Cyient DLM IPO for listing on the BSE and National Stock Exchange of India Limited.
Through a new issue of equity shares, the company hopes to raise Rs 592.00 crore. Before submitting the red herring prospectus to the Registrar of Companies, it may also think about raising Rs 148 crore through a private placement, rights issue, preferential offer, or another route.
Cyient DLM IPO Important Dates
| Events | Date |
| IPO Opening Date | 27 June 2023 |
| IPO Closing Date | 30 June 2023 |
| Basis of Allotment Finalization | 5 July 2023 |
| Refunds Initiation | 6 July 2023 |
| Credit of Shares to Demat Account | 7 July 2023 |
| Share Listing Date | 10 July 2023 |
Having the proper bidding dates is crucial for IPO listings since it affects stock analysis and the bidding process significantly.
Dates for the open-close, allocation, listing, etc. have not yet been disclosed by the organization. The company will announce these Cyient DLM IPO dates as soon as the IPO documents have been approved.
Cyient DLM IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 250 to Rs 265 |
| Offer for Sale | Rs NA Crore |
| Fresh Issue | Rs 592.00 Crore |
| IPO Size | Rs 592.00 Crore |
The proposed listing would include a Cyient DLM IPO size in the form of a new issue of new equity shares for a sum of up to Rs 592.00 crore.
If it proceeds with the pre-IPO placement, the fresh issue size will be adjusted to reflect that.
The projected listing and issue price of the IPO shares are dependent on a variety of variables, including but not limited to the book-building procedure mandated by Indian legislation, receipt of necessary clearances, and external variables including current market conditions and other factors.
There is no updated information on the Cyient DLM IPO price band because there is no guarantee that the proposed listing will go through. Data will be added as it is updated.
Cyient DLM IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 10 Jul 2023 | Rs 150 | Rs 300 | Rs 7000 |
| 09 Jul 2023 | Rs 150 | Rs 300 | Rs 7000 |
| 07 Jul 2023 | Rs 120 | Rs 300 | Rs 3000 |
| 06 Jul 2023 | Rs 120 | Rs 300 | Rs 3000 |
| 05 Jul 2023 | Rs 120 | Rs 300 | Rs 3000 |
| 04 Jul 2023 | Rs 130 | Rs 300 | Rs 3000 |
| 03 Jul 2023 | Rs 115 | Rs 300 | Rs 3000 |
The “grey market premium” is the surcharge added on top of the price range of the IPO published share price, and the shares are then exchanged at this new price in the grey market.
Grey market trading begins a few days before the dates for the IPO bids. In this instance, however, there is no activity on the grey market because the company hasn’t even revealed the IPO bidding dates.
Investors will be able to see the details in the table above regarding the Cyient DLM IPO GMP and relevant information once trading on the grey market starts.
A good trading response in this market indicates that the company will have demand in the actual trading market.
Cyient DLM IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 27th Jun | 0.03x | 3.80x | 10.62x | 0.32x | 2.85x |
| 2nd Day – 28th Jun | 0.96x | 11.94x | 25.71x | 1.16x | 8.10x |
| 3rd Day – 30th Jun | 95.87x | 47.75x | 52.15x | 2.60x | 71.34x |
| Shares Offered or Net Issue | 6,532,076 | 3,266,037 | 2,177,358 | 602,167 | 12,577,638 |
Only the IPO filings have been filed by the business. There is still time for the bidding to start, thus the subscription status is presently absolutely minimal.
However, interested parties can access the Cyient DLM IPO Subscription status in real-time by clicking here once the IPO bidding commences in the future.
Cyient DLM IPO Allotment Status
The corporation has distributed the following number of shares to the various investor groups: 7 5% for Qualified Institutional Buyers, 15% for National Institutional Investors, and 10% for Retail Investors.
The exact Cyient DLM IPO Allotment finalized in each of the investor classes may be seen at this link once the IPO goes live.
Cyient DLM IPO Live Performance
Following the Cyient DLM IPO performance in real-time is the simplest way to keep tabs on the Cyient DLM share price and determine investor attitude toward the stock. If you’re interested in doing the same, click this link to learn more.
Subscribe to Cyient DLM IPO – Open Free Demat Account Now!
Latest Cyient DLM IPO News
Currently, the most significant piece of IPO news is the DRHP filing for Cyient DLM. Aside from this Cyient DLM IPO news, there is no more information available at this time.
The company’s strengths and financial performance are currently being covered by the media to assist investors in evaluating the shares.
Cyient DLM – Company Review
According to the DRHP, which cited a Frost & Sullivan report, Cyient DLM claims to be one of the top integrated electronic manufacturing services (EMS) and solutions providers with strong capabilities throughout the value chain and the whole life cycle of a product.
The company asserts that company, it has more than 20 years of experience creating very complicated systems with a high mix and low to medium volume.
It is the largest provider of EMS services to the aerospace and defence industries and one of the few EMS firms in India that cater to highly regulated industries.
ABB, Bharat Electronics, Honeywell International, Thales Global Services, ABB, Molbio Diagnostics, and other well-known companies from a variety of high-entry-barrier industries make up the company’s valued clientele.
Products or Services
Customers can choose between Build to Print (“B2P”) and Build to Specification (“B2S”) services for the company’s electronic manufacturing services.
In B2P solutions, the customer designs the product, and the company then offers flexible and agile manufacturing services.
As part of its B2S offerings, the business manufactures the relevant product after using Cyient Limited’s design capabilities to create it based on the client’s demands.
Solutions mostly include:
- Box builds for safety-critical systems, including cockpits, in-flight systems, landing systems, and medical diagnostic devices
- Cable Harnesses, and
- Printed Circuit Board (“PCB”) Assembly (“PCBA”)
Promoters and Holding
The promoters of the company are:
- Cyient Limited
The issue’s book-running lead managers are Axis Capital and JM Financial, and KFin Technologies has been chosen to serve as the issue’s registrar.
Is Cyient DLM good for Investment?
With more than two decades of experience in the EMS business, Cyient DLM Limited has several competitive advantages and capabilities that offer it a distinct advantage and several important advantages that are challenging to match.
These variables include the company’s sectoral competence, the high complexity of the products and solutions it manufactures and offers its capacity to deliver end-to-end solutions, and the confidence of its clientele.
Additionally, the development of the “China Plus One” strategy, the rising demand for electronics manufacturing, the intense focus on the Indian market, and opportunities in “Built to Spec” (B2S) are significant global trends that offer a special chance to expand the company after the Cyient DLM IPO.
Cyient DLM Financial Statements
| Amount (in INR & Million) | ||||
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Assets | 10,002.74 | 7,769.14 | 6,450.31 | 5,934.94 |
| Revenue | 3,480.78 | 7,284.84 | 6,369.11 | 4,649.12 |
| Expense | 3,294.08 | 6,777.54 | 6,213.16 | 4,721.28 |
| Profit After Tax | 134.22 | 397.95 |
118.14
|
(67.04)
|
The business granted Cyient Limited 15.7 lakh equity shares in September 2022 at an issue price of Rs 566 per share, for a total of Rs 88.86 crore. Cyient is the only shareholder in the business and has a 100% stake in it.
The company declared a net profit of Rs 13.42 crore with revenue of Rs 340.27 crore for the six months that ended on September 30, 2022, compared to its profit of Rs 39.8 crore with revenue of Rs 720.53 crore in FY22.
In terms of operations, earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 83 per cent to Rs 84 crore, and the margin increased by more than 4 percentage points to 11.66 per cent from 7.31 per cent in the prior year.
The company stated in DRHP that the financial year 2019–20’s net loss of Rs. 6.7 crore was principally caused by an Rs. 8.37 crore one-time projected credit loss allowance.
The strategic partnership model employed by Cyient DLM Limited with its clients has sped up the company’s expansion and helped it establish itself as a market leader in the EMS space.
This model will help the company expand even after the Cyient DLM IPO injects additional capital into the business cycle.
| Earnings per Equity Share (in Million) | ||||
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 4.61 | 16.17 | 4.80 | (2.72) |
Cyient DLM IPO Review
This Cyient DLM IPO Review provides an in-depth look into the segments in which the company is planning to inject the raised funds.
The following items are among those for which Cyient DLM IPO plans to use the net proceeds:
- Funding the company’s escalating working cash needs;
- Financing the company’s capital expenditures;
- Return or prepayment of some borrowings in full or in part;
- Acquiring new businesses to achieve inorganic growth; and
- Other broader corporate objectives
Additionally, a certain number of shares will be set aside for qualifying Cyient DLM workers and Cyient shareholders. The DRHP does not, however, reveal the precise reserve amount.
Cyient DLM IPO Details
Here are a few more details you need to know before investing in Cyient DLM IPO –
Cyient DLM IPO Issue Object
The Cyient DLM has proposed diverse objectives for making the IPO offer and some of the objectives are:
-
Funding incremental working capital requirements of our Company;
-
Funding capital expenditure of our Company;
-
Repayment/prepayment, in part or full, of certain of our borrowings;
-
Achieving inorganic growth through acquisitions; and
-
General corporate purposes.
Cyient DLM IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Ability to provide integrated engineering solutions with strong capabilities across the product value chain;
- High entry barriers for our competitors due to our technical expertise, capabilities in safety-critical electronics in highly regulated industries and customer engagement;
- Robust and industry-leading order book with marquee customers, with whom we enjoy sustained and long-standing relationships as their preferred partners;
- World-class manufacturing infrastructure, stringent quality, diverse in-house capabilities and robust supply chain, enable us to provide high-quality end-to-end integrated solutions to our customers;
- Strong parentage of our Promoter, Cyient Limited, and a long history of industry expertise, an experienced Board and a senior management team.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 |
16.17
|
51.61% |
31.34
|
| 31-Mar-21 |
4.80
|
31.38% | – |
| Mar-20 |
(2.72)
|
(26.08%) | – |
Cyient DLM IPO Lead Managers
Here is the list of Lead managers –
-
Axis Capital Limited
-
JM Financial Limited
Cyient DLM IPO Registrar to offer
Check out the details of the registrar here –
KFin Technologies Limited
(formerly known as KFin Technologies Private Limited)
Selenium, Tower B, Plot No. 31 and 32
Financial DistrictNanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032 Telangana,
IndiaTel: +91 40 6716 2222/ 18003094001
E-mail:cyientdlm.ipo@kfintech.com
Website:www.kfintech.com
Investor grievance e-mail:einward.ris@kfintech.com
Contact person: M Murali Krishna
SEBI Registration Number: INR000000221
Cyient DLM IPO – Other Details
- Statutory Auditor – S. R. Batliboi & Associates LLP
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – Axis Bank Limited, HDFC Bank Limited, State Bank of India and The Federal Bank Limited
Cyient DLM IPO Verdict by Stock Brokers
Stock brokers are only presently evaluating the market’s overall growth and the company’s financial success because the Cyient DLM IPO is still very early in its development.
As further hearings start, more analysts will present their viewpoints.
Cyient DLM IPO – Conclusion
The sectoral expertise of Cyient DLM Limited’s Promoter has given the company significant advantages and a competitive edge.
Cyient Limited was recognized by the Information Services Group as a Rising Star in Managed Services and was positioned in the “Leadership Zone” across the aerospace, telecommunication, semiconductor, industrial, and medical devices verticals.
Additionally, Zinnov Zones has evaluated Cyient as an Expansive-Established player in the Digital Engineering and ER&D Services – USA region. The name “Cyient” is known for its solid international engineering capabilities, high standards of service, and dependability.
With such advantages, Cyient DLM will be better able to develop, grow, and explore greater prospects as a result of the Cyient DLM IPO filing.
We trust that you found the Cyient DLM IPO Review to be helpful. For more recent updates, keep checking the details.
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Cyient DLM IPO Review FAQs
Check out the FAQs on Cyient DLM IPO –
What is the Issue Size of Cyient DLM IPO?
The Company is making an initial public offer of 22,339,623 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Cyient DLM IPO?
The price band for this particular IPO ranges between Rs 250 to Rs 265. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Cyient DLM IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 27 June 2023, while the closing date is set at 30 June 2023.
What is the Cyient DLM IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 05 July 2023, refund initiation is on 06 July 2023, credit of shares is on 07 July 2023, and share listing date is on 10 July 2023.
What is the Cyient DLM IPO Listing Date?
Shares of this company shall be listed in the exchanges on 10 July 2023. The date, when the listing would be done, is stagnant on 10 July 2023.
Who is the Registrar of Cyient DLM IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Cyient DLM IPO?
Here are the promoters of this IPO – CYIENT LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Cyient DLM IPO?
They have obtained the GMP of this IPO and it is Rs. 150. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Cyient DLM IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Cyient DLM Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Million is 397.95, 2021 is 118.14, and 2020 is (67.04). PAT from Sep 2022 is 134.22.
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