Cyient DLM IPO listing: Stock lists at a premium of 52% at ₹403 on NSE
Cyient DLM IPO: Shares of Cyient DLM Ltd listed on the bourses at a premium on Monday. On the NSE, the stock was listed at ₹403 per share, 52.1 percent higher than the issue price, and on the BSE, the stock was listed at ₹401 per share.
The company has fixed the price band for the issue at ₹250 to ₹265 per share.
The public issue that opened for subscription on Tuesday June 27, closed on Friday, June 30. On the final day of the subscription, the issue received overall positive response from retail, qualified institutional buyers (QIBs), and non institutional investors (NIIS). Retail investors portion was subscribed 52.17 times, QIBs was subscribed 95.87 times, NII portion was subscribed 47.75 times, and employee portion was subscribed 2.60 times.
The stock market experts had predicted that Cyient DLM IPO would have an impressive listing. According to them, the opening price of Cyient DLM shares will be between ₹450 and ₹480 in a bullish scenario, while the price would be between ₹400 and ₹420 in a bearish scenario. Therefore, a lot would depend on how the stock market opened on Monday morning deals or how the market felt at the moment.
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 ₹15 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: 10 Jul 2023, 10:01 AM IST
