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News Details

22/06/2023 11:00

Cyient DLM announces launch of initial public offering

Cyient DLM Ltd. has announced public offering of 22339624 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 255.00 per share. The gross proceeds of the issue are expected to be Rs 59,200.00 lakhs.

The company's initial public offer (IPO) will open on 27 June 2023 and is expected to close on 30 June 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 250.00-265.00 per share.

The IPO includes a fresh Issue of 22339624 Equity Shares of the Company at an price of Rs 265.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 56 shares with bids in multiples of 56.

Cyient DLM Ltd. anticipates using the proceeds of the issue for Funding incremental working capital requirements of the Company

Funding capital expenditure of the Company

Repayment/prepayment, in part or full, of certain of the borrowings

Achieving inorganic growth through acquisitions

General corporate purposes.

Axis Capital Ltd.,JM Financial Ltd. as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.