Cyient DLM IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Cyient DLM IPO will open on June 27 and close on June 30, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 592 crore through this public issue.
Cyient DLM Limited (“the Company”)
Cyient DLM Limited is one of the leading integrated Electronic Manufacturing Services (“EMS”) and solutions providers (Source: Frost & Sullivan Report) with strong capabilities across the value chain and the entire life cycle of a product. With over two decades of experience developing high-mix, low-to-medium-volume, highly complex systems, they are a qualified supplier to global OEMs in the aerospace, defence, medical technology, and industrial sectors.
They are one of the few EMS companies in India catering to highly regulated industries and the largest supplier of EMS services to the aerospace and defence industries by value in India (Source: Frost & Sullivan Report).
Company Electronic Manufacturing Services are provided as Build to Print (“B2P”) and Build to Specification (“B2S”) services to its clients.
The company’s solutions primarily comprise: (i) printed circuit board (“PCB”) assembly (“PCBA”), (ii) cable harnesses, and (iii) box builds, which are used in safety-critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment.
The company’s manufacturing infrastructure comprises three facilities spread across two states in India: Mysuru, Hyderabad, and Bengaluru.
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Funding the incremental working capital requirements of the company,
- funding the capital expenditures of the company,
- Repayment or prepayment, in part or full, of certain of the borrowings,
- Achieving inorganic growth through acquisitions, and
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 198 | 77 | 38 | 26 |
| Total Assets | 1,105 | 777 | 645 | 593 |
| Reserve & Surplus | 145 | 76 | 36 | 24 |
| Total Borrowings | 214 | 293 | 234 | 261 |
| Total Revenue | 838 | 728 | 637 | 465 |
| Profit After Tax | 32 | 40 | 12 | (7) |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 250 to ₹ 265 per share |
| Employee Discount | ₹ 15 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 56 Shares |
| Issue Size | 22,339,623 shares (aggregating up to ₹ 592 crores) |
| Fresh Issue | 22,339,623 shares (aggregating up to ₹ 592 crores) |
| Listing At | NSE, BSE |
| Company Promoters | Cyient Limited |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | 6,532,076 (29.19%) |
| NII (HNI) shares offered | 3,266,037 (14.60%) |
| Retail shares offered | 2,177,358 (9.73%) |
| Employee Shares Offered | 602,167 (2.69%) |
| Anchor Investor Shares Offered | 9,798,113 (43.79%) |
| Total Shares Offered | 22,375,751 (100%) |
GMP: Cyient DLM IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Cyient DLM IPO
The issue opens for subscription on June 27, 2023, and closes for subscription on June 30, 2023 (both days inclusive). The basis of allotment will be finalised on July 5, 2023, and the refunds will be initiated on July 6, 2023. In addition, the demat credits are expected to happen on July 7, 2023, and the stock will be listed on the NSE and BSE on July 10, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | June 27, 2023, |
| Closing Date | June 30, 2023 |
| Basis of Allotment | July 5, 2023 |
| Initiation of Refunds | July 6, 2023 |
| A credit of shares to Demat A/c | July 7, 2023 |
| Listing Date | July 10, 2023 |
Lot Size
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 56 | ₹1 4,840 |
| Retail (Maximum) | 13 | 728 | ₹ 192,920 |
| S-HNI (Minimum) | 14 | 784 | ₹ 207,760 |
| S-HNI (Maximum) | 67 | 3,750 | ₹ 994,280 |
| B-HNI (Minimum) | 68 | 3,808 | ₹1,009,120 |
Anchor Investors
| Anchor Investor Bid Date | June 26, 2023 |
| Shares Offered | 9,798,113 |
| Anchor Portion Size | ₹ 259.65 crores (Shares offered * Upper Price) |
| Anchor lock-in period end date (50% Shares) | Around August 17, 2023 (30 Days) |
| Anchor lock-in period end date (remaining shares) | Around Nov 15, 2023 (90 Days) |
Promoters Holdings
| Pre-issue Shares Holdings | 92.84% |
| Post-issue Shares Holdings | 66.68% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Cyient DLM Limited 3 rd Floor, Plot No. 11, Software Units Layout, Infocity, Madhapur, Hyderabad 500 081 Phone: +91 821 4000 500 Email: company.secretary@cyientdlm.com Website: https://www.cyientdlm.com/ |
| IPO Registrar | Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: cyientdlm.ipo@kfintech.com Website: https://karisma.kfintech.com/ |
| IPO Lead Manager(s) | Axis Capital LimitedJM Financial Limited |
