Cyient DLM IPO to open for subscription on June 27. Check details

The initial share sale of Cyient DLM will open for subscription on June 27 and close on June 30. The subscription for anchor investors will open on June 26.

The IPO is entirely a fresh issue of equity shares up to Rs 592 crore, reduced from Rs 740 crore earlier.

The company has undertaken a pre-IPO placement of 40.75 lakh equity shares, aggregating up to Rs 108 crore. The price band for the issue is yet to be announced.


The draft papers were filed with Sebi in January this year and received approval from the regulator in March 2023.

Cyient DLM, a subsidiary of Cyient, focuses on highly complex, low-volume electronics manufacturing for safety-critical segments. The company had last year appointed Anthony Montalbano as its CEO.

The advancement of the China Plus One strategy, increasing need for electronics manufacturing, significant focus on the Indian market, and opportunities in Built to Spec (B2S) are key global trends that present a unique opportunity to grow the Cyient DLM business, the company had said earlier.

For the financial year ending March 2023, the company's revenue from operations grew 15% to Rs 832 crore, while profit for the same period stood at Rs 31.7 crore, up by 4%.

The company derives a major part of its revenues from printed circuit board assembly (PCBA), wherein almost 63% of contribution and 32% of the revenue comes from box builds which are used in safety-critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment.

The net proceeds from the issue will be used towards funding incremental working capital requirements, capital expenditure, repayment of debt, and other general corporate purposes.

Axis Capital and JM Financial are the book-running lead managers to the issue, while KFin Technologies is the registrar.

On Wednesday, Cyient shares are trading 0.58% lower at Rs 1,488 on NSE.