Cyient DLM Limited IPO: Price Band, Lot Size, Financials & Review
Cyient DLM Limited IPO listed on BSE & NSE on Mon, 10 Jul 2023. The issue was subscribed 71.34x overall.
- Open Date
- 27 Jun 2023
- Close Date
- 30 Jun 2023
Last updated
- Price band
- ₹250 – ₹265
- Lot size
- 56 shares
- Min. investment
- ₹14,840
- Issue size
- ₹592 Cr
- Last GMP
- +₹135
- Subscribed
- 🔥 71.34x
Cyient DLM Limited IPO details
Cyient DLM Limited IPO is a ₹592 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue was open from Tue, 27 Jun 2023 to Fri, 30 Jun 2023. Allotment was finalised on Wed, 5 Jul 2023, and the shares listed on BSE & NSE on Mon, 10 Jul 2023.
The price band is ₹250 to ₹265 per share and the lot size is 56 shares, so the minimum retail application is ₹14,840. Retail investors can apply for up to 13 lots (728 shares, ₹1,92,920).
KFin Technologies Limited is the registrar, and Axis Capital Limited and JM Financial Limited are the book running lead managers.
Grey market premium (GMP)
Day-wise GMP →The last Cyient DLM Limited IPO GMP before listing was +₹135 (+50.94% against the upper price band of ₹265), implying an estimated listing price of ₹400.
| Last GMP | +₹135 |
|---|---|
| GMP vs upper band | +50.94% |
| Estimated listing price | ₹400 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Cyient DLM Limited IPO day-wise GMP.
Subscription
Day-wise subscription →Cyient DLM Limited IPO was subscribed 71.34x overall: QIB 95.87x, NII 47.75x and retail 52.17x.
| Category | Subscribed |
|---|---|
| QIB | 95.87x |
| NII | 47.75x |
| Retail | 52.17x |
| Employees | 2.60x |
Final figures at the close of bidding on 30 Jun 2023. Category-wise bids, application-wise breakup and allotment chances are on the Cyient DLM Limited IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 97,98,113 | 43.79% |
| Qualified Institutions | 65,32,076 | 29.19% |
| Non-Institutional | 32,66,037 | 14.60% |
| └ BNII | 21,77,358 | 9.73% |
| └ SNII | 10,88,679 | 4.87% |
| Retail Investors | 21,77,358 | 9.73% |
| Employees | 6,02,167 | 2.69% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Cyient DLM Limited IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 56 | ₹14,840 |
| Retail (Max) | 13 | 728 | ₹1,92,920 |
| S-HNI (Min) | 14 | 784 | ₹2,07,760 |
| S-HNI (Max) | 67 | 3,752 | ₹99,280 |
| B-HNI (Min) | 68 | 3,808 | ₹10,09,120 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
P/E is not meaningful here because earnings per share is zero or negative.
Promoter holding falls from 92.84% before the issue to 66.68% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹10.07 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 66.25x |
| EPS (post-issue) EPS on the enlarged share capital | ₹0 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | — |
| Promoter holding (pre-issue) | 92.84% |
| Promoter holding (post-issue) | 66.68% |
Cyient DLM Limited financials
Between 31 Mar 2022 and 31 Mar 2023, Income rose from ₹728.48 Cr to ₹838.34 Cr, and profit after tax fell from ₹39.8 Cr to ₹31.73 Cr. The PAT margin for 31 Mar 2023 was 3.78%.
| Period ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 593.49 | 645.03 | 776.91 | 1,104.72 |
| Total Income | 464.91 | 636.91 | 728.48 | 838.34 |
| Profit After Tax | -6.70 | 11.81 | 39.80 | 31.73 |
| Net Worth | 25.71 | 37.65 | 77.11 | 197.87 |
| Reserve & Surplus | 24.34 | 36.29 | 75.75 | 145.01 |
| Total Borrowings | 261.37 | 233.77 | 293.19 | 314.47 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | KPI Information |
|---|---|
| ROE % | 23.10 |
| ROCE % | 13.48 |
| RoNW % | 30.45 |
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Funding incremental working capital requirements of the company, |
| 2 | Funding capital expenditure of the company, |
| 3 | Repayment/prepayment, in part or full, of certain of the borrowings, |
| 4 | Achieving inorganic growth through acquisitions |
| 5 | General corporate purposes. |
About Cyient DLM Limited
Incorporated in 1993, Cyient DLM Limited provides Electronic Manufacturing Services (EMS) and solutions.
The company provides Electronic Manufacturing Services as Build to Print ("B2P") and Build to Specification ("B2S") services. B2P solutions involve clients providing the design for the product for which the company provides agile and flexible manufacturing services. And, B2S services involve designing the relevant product based on the specifications provided by the client and manufacturing the product.
Cyient DLM's solutions primarily comprise:
- Printed circuit board ("PCB") assembly ("PCBA"),
- Cable harnesses, and
- Box builds which are used in safety critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment.
The company's client list includes Honeywell International Inc. ("Honeywell"), Thales Global Services S.A.S ("Thales"), ABB Inc, Bharat Electronics Limited, and Molbio 152 Diagnostics Private Limited, and so on.
Promoters
Cyient Limited
Contact details
Cyient DLM Limited
3 rd Floor, Plot No. 11,
Software Units Layout, Infocity,
Madhapur, Hyderabad 500 081
Phone : +91 821 4000 500
Email : company.secretary@cyientdlm.com
Website : https://www.cyientdlm.com/
Cyient DLM Limited IPO FAQs
- What is the Cyient DLM Limited IPO price band?
- The Cyient DLM Limited IPO price band is ₹250 to ₹265 per share.
- What is the Cyient DLM Limited IPO lot size and minimum investment?
- The Cyient DLM Limited IPO lot size is 56 shares. The minimum retail investment is ₹14,840 for one lot at the upper price band. Retail investors can apply for up to 13 lots (728 shares), costing ₹1,92,920.
- When was Cyient DLM Limited IPO open for subscription?
- Cyient DLM Limited IPO was open for subscription from Tue, 27 Jun 2023 to Fri, 30 Jun 2023.
- What is the Cyient DLM Limited IPO subscription status?
- Cyient DLM Limited IPO was subscribed 71.34x overall: QIB 95.87x, NII 47.75x and retail 52.17x. Day-wise and category-wise figures are on the subscription page.
- What was the Cyient DLM Limited IPO GMP before listing?
- The last Cyient DLM Limited IPO GMP before listing was +₹135 (+50.94% against the upper price band of ₹265), implying an estimated listing price of ₹400. GMP is an unofficial grey market indicator and can change quickly.
- What is the Cyient DLM Limited IPO allotment date?
- The Cyient DLM Limited IPO basis of allotment was finalised on Wed, 5 Jul 2023. You can check your allotment status on the KFin Technologies Limited website.
- What is the Cyient DLM Limited IPO listing date?
- Cyient DLM Limited IPO listed on BSE & NSE on Mon, 10 Jul 2023.
- Is the Cyient DLM Limited IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Cyient DLM Limited IPO?
- The registrar for the Cyient DLM Limited IPO is KFin Technologies Limited, and the book running lead managers are Axis Capital Limited and JM Financial Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.