IPO of Cyient DLM, a subsidiary of multibagger stock Cyient, to open on June 27.
The IPO (Initial Public Offering) of CyientDLM is going to open for applications from investors from June 27, 2023 and investors in the IPO can apply till June 30. The company is going to raise Rs 592 crore from the market by issuing fresh issue. new shares. Whereas earlier there was a plan to raise Rs 740 crore. Cyant DLM is a subsidiary of Hyderabad based software company Cyant.
CyientDLM has allotted 40.75 lakh shares worth Rs 108 crore in the pre-IPO placement. CyientDLM filed a draft letter with regulator Sebi in January and the company got the go-ahead for the IPO in March. The company will be listed on BSE and National Stock Exchange. The shares in this IPO will be reserved for eligible employees and eligible shareholders of Cyient. Scient 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, an increase of 15 percent, while the profit was Rs 31.7 crore, an increase of 4 percent. The bulk of the company’s revenue comes from printed circuit board assembly. The company is also present in the field of Medical Diagnostic Equipment.
Scient is a global engineering and technology company. The stock of Multibagger Cyient has given excellent returns to the investors in the recent months. This stock has given 13% return in 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, the IPO market has also returned to the bright spot once again. Apart from CyientDLM, the IPO of drone company Ideaforge is also going to open next week.
