Cyient DLM shares make a strong D-street debut; stock lists at 52% premium at Rs 403
The IPO of electronic manufacturing services company Cyient DLM received a super strong response from the investors and was overall subscribed 71.35 times.
- Jul 10, 2023,
- Updated Jul 10, 2023 12:17 PM IST
Shares of Cyient DLM made a strong debut on Dalal Street on Monday as the company got listed at Rs 403, a premium of 52 per cent against its issue price of Rs 265 apiece on the National Stock Exchange (NSE). Similarly, the stock was listed at a premium of 51 per cent at Rs 401 on the BSE.
Before its listing, shares of Cyient DLM were commanding a premium of Rs 160-165 per share in the grey market, about 60 per cent higher from its issue price of Rs 265 apiece. The stock was commanding a grey market premium of Rs 130-135 on the last trading day, Friday, before its listing.
This IPO of electronic manufacturing services (EMS) company received a strong response from the investors and was overall subscribed 71.35 times. The issue was open for subscription between June 27-30 in the price range of Rs 250-265 per share. Cyient DLM remained stable in the grey market and was commanding a premium of Rs 125 per share.
The quota reserved for qualified institutional bidders (QIBs) was subscribed 95.87 times, while the portion for non-institutional bidders (NIIs) was booked 47.75 times. The allocation of retail investors was subscribed 52.17 times, while the portion for employees was booked only 2.60 times.
Incorporated in 1993, Cyient DLM provides Electronic Manufacturing Services (EMS) as build to print (B2P) and build to specification (B2S) services including product design, and flexible manufacturing services tailored to meet their specific requirements.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)
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Shares of Cyient DLM made a strong debut on Dalal Street on Monday as the company got listed at Rs 403, a premium of 52 per cent against its issue price of Rs 265 apiece on the National Stock Exchange (NSE). Similarly, the stock was listed at a premium of 51 per cent at Rs 401 on the BSE.
Before its listing, shares of Cyient DLM were commanding a premium of Rs 160-165 per share in the grey market, about 60 per cent higher from its issue price of Rs 265 apiece. The stock was commanding a grey market premium of Rs 130-135 on the last trading day, Friday, before its listing.
This IPO of electronic manufacturing services (EMS) company received a strong response from the investors and was overall subscribed 71.35 times. The issue was open for subscription between June 27-30 in the price range of Rs 250-265 per share. Cyient DLM remained stable in the grey market and was commanding a premium of Rs 125 per share.
The quota reserved for qualified institutional bidders (QIBs) was subscribed 95.87 times, while the portion for non-institutional bidders (NIIs) was booked 47.75 times. The allocation of retail investors was subscribed 52.17 times, while the portion for employees was booked only 2.60 times.
Incorporated in 1993, Cyient DLM provides Electronic Manufacturing Services (EMS) as build to print (B2P) and build to specification (B2S) services including product design, and flexible manufacturing services tailored to meet their specific requirements.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)
Also read: Hot stocks on July 10, 2023: RailTel, IIFL Finance, Tata Motors, Suzlon Energy and more
Also read: Reliance Industries shares hit Rs 2,700 level, m-cap tops 18 lakh cr mark on JFS
Also read: Suzlon Energy shares in focus on Rs 2,000 crore fundraising plan