Cyient DLM IPO: After Ideaforge, Cyient DLM IPO has been listed on the stock exchange with a bang. The share with an issue price of Rs 265 is listed on the stock exchange at Rs 401 with a listing gain of 51 per cent. Cyient DLM is a subsidiary of Hyderabad based software company Cyient. Saint DLM’s IPO has also got the benefit of the excellent sentiment of the market.
Electronics manufacturing services and solution provider Saint DLM raised Rs 592 crore from the market through an IPO. The company had fixed the price band of IPO at Rs 250 to 265 per share. The IPO was open for applications from investors from June 27 to June 30. Saint DLM had allotted 40.75 lakh shares worth Rs 108 crore in the pre-IPO placement.
The #NSEBell has rung in the celebration of the listing ceremony of Cyient DLM Limited on NSE today! #nse #nseindia #listing #IPO #stockmarket #ShareMarket #cyientdlmlimited @ashishchauhan pic.twitter.com/bmrv5488nK
— NSE India (@NSEIndia) July 10, 2023
Saint DLM’s IPO received a great response from investors. The IPO was oversubscribed a total of 67 times. In which the reserve quota was subscribed 90 times to institutional investors, 49.22 times to retail investors and 45.05 times to non-institutional investors.
Looking at the financial results of the company, in the financial year 2022-23, which ended March 2023, the company’s revenue was Rs 832 crore with a growth of 15 per cent, while the profit was Rs 31.7 crore with a growth of 4 per cent. A major part of the company’s revenue comes from printed circuit board assembly. The company is also present in the field of Medical Diagnostic Equipment. The company has an order book of Rs 2432.5 crore.
Saint DLM’s parent company Saint is also listed on the stock exchange and the company’s shares have given investors a multibagger return of 475% in 3 years. The company’s stock is trading at Rs 1440, down 2.80 per cent in Monday’s trade.
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