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Cyient DLM IPO: Cyient, a subsidiary of Hyderabad-based software company Cyient, is preparing to bring DLM IPO (Initial Public Offering). The company is preparing to raise Rs 740 crore from the market through fresh issue ie by issuing new shares. Cyient has given this information Cyient DLM has filed a draft paper with the stock market regulator SEBI (Securities and Exchange Board of India) to bring the IPO.
Listing will be done on NSE-BSE
The company informed that Cyient DLM has filed a draft paper with SEBI for listing on BSE and National Stock Exchange. There will be a fresh issue of Rs 740 crore in Cyient DLM’s IPO. The company has informed that after consulting the Book Running Lead Managers, before the Pre-IPO Placement, the company can further increase the size of the IPO by Rs 148 crore. Shares will be reserved for eligible employees and eligible shareholders of Cyient in this IPO. Cyient DLM is present in the field of Electronics Manufacturing.
Cyient’s market cap is Rs 9297 crore.
Cyient is a global engineering and technology company. Cyient’s stock closed at Rs 841.25 on the stock exchange on Tuesday with a gain of 1.32 per cent. In the last one year, the company’s stock has fallen by about 20 percent. IT stocks have taken a big beating in 2022, due to which the company has to bear the brunt. The stock has given a return of 57 per cent in the last two years and 44 per cent in five years. The market cap of Cyient is Rs 9297 crore. Foreign investors hold 32.62 per cent stake in Cyient while domestic institutional investors hold 23.73 per cent.
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