Cyient DLM gets Sebi nod for Rs 740 crore IPO
Cyient’s attachment Cyient DLM entered the go- ahead from the request controller Securities and Exchange Board of India (SEBI) to launch its original public immolation( IPO). The public immolation comprises a fresh issue adding up to Rs 740 crore.
Cyient DLM may consider a farther issue of specified securities, including by way of a private placement, rights issue, preferential offer worth Rs 148 crore in discussion with the book- running lead directors before the form of the red herring prospectus (RHP) with the register of companies, the company said in its media release. But that will be subject to applicable laws. Axis Capital and JM Financial are the book- running lead directors to the issue.
The draft papers were filed with the SEBI on January 10, 2023, and the compliances by the request controller were issued on March 29, 2023 (Wednesday), according to the information available on SEBI website. Shares of small cap stock Cyient were trading over 4.75% advanced on NSE.
” The proposed table and issue price of the IPO shares are subject to numerous factors, including but not limited to the book structure process under Indian regulations, damage of applicable blessings and external factors similar as prevailing request conditions and certain other considerations. As there’s no assurance that the proposed table will do, shareholders and implicit investors are advised to exercise caution when dealing with the securities of the company,” the company had earlier said.
Cyient DLM focuses on largely complex, low- volume electronics manufacturing for safety-critical parts. The company had last time appointed Anthony Montalbano as its CEO. The advancement of the China Plus One strategy, adding need for electronics manufacturing, significant focus on the Indian request, and openings in erected to Spec (B2S) are crucial global trends that present a unique occasion to grow the Cyient DLM business, the company had said before.
About Cyient DLM
A Design Led Manufacturing Partner to meet your complex product requirements . For over 30 years, Cyient DLM has been a trusted electronics and mechanical manufacturing partner and systems supplier to some of the largest players across multiple industries. As an integrated manufacturing partner that provides Design Led Manufacturing (DLM) solutions to customers, we take ownership of design, manufacturing, testing, and certification support to ensure that customers’ products meet robust standards in reliability, safety, and performance. We have expertise in safety-critical electronics in highly regulated industries. Our engineers have significant design and manufacturing expertise that helps our customers build complex products and achieve faster time-to-market.
With Cyient DLM as your value-added partner, you can: — Achieve a seamless transition from the design phase to the manufacturing phase leading to faster time-to-market. Optimize product cost through value engineering capabilities. Leverage and benefit from world-class manufacturing infrastructure, stringent quality, diverse in-house capabilities, and robust supply chain capabilities.
Vision & Mission
Create a collaborative workplace that supports diverse thinking and inspires talented people to reach their potential. – To build a work environment that bridges the gap in gender diversity, is free of discrimination, enhances professional growth, and empowers employees to create real change.