Cyient DLM IPO: Issue fully booked on Day 2; retail portion sees huge interest
On the second day of the subscription, the issue received positive response from retail, and overall decent response from employees, and non institutional investors (NIIS). Retail investors portion was subscribed 19.18 times, and employee portion was subscribed 76%.
Non Institutional Investors (NIIS) subscribed to the issue 7.66 times, whereas Qualified institutional buyers’ (QIBs) portion was subscribed 5%.
The company has received bids for 7,15,95,776 shares against 1,33,32,297 shares on offer, according to data from the BSE, at 13:48 IST.
The retail investors’ portion received bids for 4,42,58,704 shares against 23,08,000 shares on offer for this segment.
The employees’ portions received bids for 4,84,400 shares against 6,38,297 on offer for this segment.
The non-institutional investors’ portion received bids for 2,65,42,096 shares against 34,62,000 on offer for this segment.
The QIB portion received bids for 3,21,944 shares against 69,24,000 on offer for this segment.
Cyient DLM IPO: Issue fully subscribed on Day 1; retail investors steal the show
The company has fixed the price band for the issue at ₹250 to ₹265 per share. Prior to its IPO, Cyient DLM received ₹259.64 crore from 20 anchor investors. There are eleven different programmes under which eight domestic mutual funds have applied.
The company opted to distribute 97,98,113 equity shares to anchor investors at a price of ₹265 per equity share. A large number of renowned investors participated in the anchor book, including Nippon Life India Small Cap, ICICI Prudential, HDFC MF, Tata Infrastructure Fund, Societe General, LIC MF, Amansa Holdings, DSP India, Aditya Birla Sun Life, Edelweiss MF, Founders Collective Fund, Catamaran EKAM, Vikasa India, BNP Paribas Arbitrage, and Kotak MF.
The Cyient DLM IPO, which is valued at ₹592 crore, is a full fresh issue of 2.23 crore shares. At the high end of the pricing range, it values the company at ₹2,000 crore.
Retail investors may submit up to 13 lots of bids for the Cyient DLM IPO, which has a lot size of 56 shares. In the IPO, the company has reserved 10% of the shares for retail investors, 15% for non-institutional investors, and 75% of the shares for qualified institutional buyers (QIB). Additionally, the corporation is giving its employees shares at a reduced price of Rs15 each.
JM Financials and Axis Capital are the issue’s lead managers, and IPO registrar Kfin Technologies is responsible for the issue.
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Updated: 28 Jun 2023, 02:06 PM IST
