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Cyient DLM IPO: Cyient DLM’s IPO (Initial Public Offering) is going to open for investors’ applications from June 27, 2023 and investors can apply in the IPO till June 30. The company is going to raise Rs 592 crore from the market through fresh issue i.e. by issuing new shares. Whereas earlier there was a plan to raise Rs 740 crore. Cyient DLM is a subsidiary of Hyderabad based software company Cyient.
Cyient DLM has allotted 40.75 lakh shares worth Rs 108 crore in the pre-IPO placement. Cyient DLM had filed a draft paper with the regulator SEBI in January and the company had got the green signal to bring the IPO in March. The company will be listed on BSE and National Stock Exchange. 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. The company has not yet announced the price band of the IPO.
Looking at the financial results of the company, the company’s revenue for the financial year ended March 2023 was Rs 832 crore with a growth of 15 per cent, while the profit was Rs 31.7 crore with a growth of 4 per cent. A major part of the company’s revenue comes from printed circuit board assembly. The company is also present in the field of Medical Diagnostic Equipment.
Cyient is a global engineering and technology company. The stock of multibagger Cyient has given stupendous returns to the investors in the recent months. The stock has given 13% returns in the last one month, 55% in 3 months and 79% in 6 months. Whereas in 3 years the stock has given multibagger return of 565%. On Wednesday, the stock closed at Rs 1465 with a gain of 2.06 per cent.
However, due to the return of brightness in the stock once again, the IPO market has also brightened. Apart from Cyient DLM, the IPO of drone company Ideaforge is also going to open next week.
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