Cyient DLM shares make a strong D-street debut; stock lists at 52% premium at Rs 403

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.

Watch: Cyient DLM shares surge 54% to Rs 409 on NSE after bumper listing; should you book profits, hold or buy? Check share price target, stop loss, and more

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.

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