10 things to know to Cyient DLM IPO that opens today

The public issue opens on June 27 and closes on June 30.

The price band of the issue has been fixed at ₹250-265.

The company plans to raise as much as ₹592 crore via the public issue.

The company manufactures printed circuit boards, cable harnesses, and box builds used in aviation and medical diagnostic sectors.

The company has raised ₹259 crore from 20 anchor investors including , ICICI Prudential, HDFC MF, Tata Infrastructure Fund, Societe Generale, LIC MF and more.

The company’s revenues went up by 15 percent in FY23 to ₹832 as compared to FY22. Its FY23 net profit however fell by 20 percent to ₹31.7 crore as compared to the year before.

The IPO is a complete offer for sale, and the it intends to use the net proceeds towards working capital, capex, debt repayment, and general corporate purposes.

Funded via IPO proceeds, acquisitions can bring its manufacturing operations closer to customers and increase wallet share, a critical monitorable, says Anand Rathi which gave a ‘subscribe’ rating on the IPO.

The IPO is commanding a grey market premium of ₹100, as per media reports. Grey market premium (GMP) is the premium at which an unlisted stock is traded in an unofficial market.