Katya Naidu27 Jun 2023, 19:04
Cyient DLM, a circuit board manufacturer, witnessed strong demand for its public issue on the first day of which the retail portion was subscribed nine times over. The QIB portion of the issue is yet to be fully subscribed. The company plans to raise up to INR 592 crore via the IPO. Cyient DLM manufactures printed circuit boards, cable harnesses, and box builds for sectors including aviation and medical diagnostics. The net proceeds from the offer for sale will be used towards working capital, debt repayment, and for general corporate purposes.