Cyient DLM was founded on June 30, 1993. It is an integrated EMS and solutions provider that focuses on the complete life cycle of products, from design and construction to maintenance. The company specializes in manufacturing printed circuit board assemblies, cable harnesses, and box builds. These components are crucial for safety-critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment. Cyient DLM offers its services to clients as B2P or B2S solutions.
| Bidding Dates |
|---|
| 27 Jun 2023 - 30 Jun 2023 |
| Subscription |
|---|
| 67.3x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,840 | 1 | 13 | 56 | 22.3 M | ₹250 - ₹265 | 71.82 % | ₹5584.9 M - ₹5920.0 M | RHP DOC |
Cyient DLM IPO SUBSCRIPTION STATUS
30 Jun '23Cyient DLM IPO overall subscription rate was 67.3 times the total available shares
Cyient DLM IPO retail subscription rate was 49.2 times in the retail segment
Cyient DLM IPO non-institutional investor subscription rate was 45.05 times in the non-institutional investor category
Cyient DLM IPO Qualified Institutional Bidder subscription rate was 90.44 times the available shares for Qualified Institutional Bidder
Cyient DLM IPO Employees subscription rate was 2.45 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
30 Jun 2023 (Day 3) | 49.2x | 45.05x | 90.44x | 2.45x |
28 Jun 2023 (Day 2) | 24.02x | 11.24x | 0.91x | 1.09x |
27 Jun 2023 (Day 1) | 9.82x | 3.57x | 0.03x | 0.29x |
Cyient DLM FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 317.3 | 8,320.3 | 521.1 | 445.0 | 10.6% |
| FY22 | 398.0 | 7,205.3 | 485.4 | 408.3 | 11.7% |
| FY21 | 118.1 | 6,280.3 | 349.3 | 75.4 | 7.3% |
Cyient DLM IPO SUBSCRIPTION STATUS DETAILS
Cyient DLM had 22.3 M shares on offer
Cyient DLM IPO offer price was in the range ₹250 - ₹265
Cyient DLM IPO minimum Investment was ₹14840
Cyient DLM IPO issue size was ₹ 5584.9 M - ₹ 5920.0 M
Cyient DLM had a minimum lot size of 56 Shares per application
Cyient DLM NUMBER OF SHARES ON OFFER
Cyient DLM IPO IMPORTANT DATES
| Issue Open Date | 27 Jun 2023 |
| Issue close Date | 30 Jun 2023 |
| Allotment Date | 04 Jul 2023 |
| Refund Date | 05 Jul 2023 |
| Demat Account Credit Date | 06 Jul 2023 |
| Listing Date | 10 Jul 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Cyient DLM Allotment Status | Exchange |
Cyient DLM IPO subscription opened on 27 Jun 2023, and closed on 30 Jun 2023
IPO allotment for Cyient DLM was finalized on Tuesday, 04 Jul 2023
IPO listing for Cyient DLM was on NSE and BSE on Monday, 10 Jul 2023
Cyient DLM IPO LISTING GAINS
| Issue Price (adjusted) | 265.0 |
| Listing Open Price | 403.0 |
| Listing Close Price | 420.6 |
| Listing Gain% | 52.1% |
| Current Gain% | 169.0% |
Cyient DLM Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cyient DLM Ltd. | 712.8 | 5651.6 | 68.9 | 3.8 | 4.2 | 7.2 | 4.5 | 1297.7 | -16 | 73.3 | 7.6 | 10.3 | 18.1 |
| KRN Heat Exchanger and Refrigeration Ltd. | 1284 | 7980.9 | 104.4 | 2.3 | 13.3 | 13.3 | 8.2 | 609.8 | 38.1 | 76.5 | 44.6 | 12.3 | 44.6 |
| Centum Electronics Ltd. | 3885.5 | 5734.6 | -111.6 | 0 | 4.6 | -13.6 | -3.6 | 968.6 | -16.8 | -46.7 | -1999.6 | -34.8 | -2567.5 |
| Marine Electricals (India) Ltd. | 358 | 4951.6 | 84.8 | 1.6 | 5.6 | 11.8 | 6.6 | 893.2 | 14.5 | 58.4 | 51.9 | 4.2 | 51.9 |
| Hind Rectifiers Ltd. | 1262 | 4337.8 | 96.4 | 4.5 | 4.3 | 21.6 | 6.8 | 1000.8 | 52.4 | 45 | 21.3 | 13.1 | 21.3 |
| Aimtron Electronics Ltd. | 1635 | 3407.6 | 74.1 | 19.6 | 11 | 303.5 | 87.2 | 46 | 79.4 | 22.1 |
Cyient DLM INFORMATION ON IPO ISSUE
About Cyient DLM
Cyient DLM was founded on June 30, 1993. It is an integrated EMS and solutions provider that focuses on the complete life cycle of products, from design and construction to maintenance. The company specializes in manufacturing printed circuit board assemblies, cable harnesses, and box builds. These components are crucial for safety-critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment. Cyient DLM offers its services to clients as B2P or B2S solutions.
Object of the Issue
- Funding incremental working capital requirements of the company
- Funding capital expenditure of the company
- Repayment/prepayment, in part or full, of certain of the borrowings
- Achieving inorganic growth through acquisitions
- General corporate purposes
Cyient DLM - PROMOTERS
| Name |
|---|
| Cyient |
Cyient DLM Book Running Lead Manager
Axis Capital Limited
cyient.ipo@axiscap.in
Cyient DLM Book Running Lead Managers
JM Financial Limited
cyient.ipo@jmfl.com
Cyient DLM Registrar to the Offer
KFinTechnologies Limited
cyientdlm.ipo@kfintech.com
Cyient DLM Strengths
Strong capabilities
The company excels in providing comprehensive engineering solutions and possesses strong capabilities throughout the entire product value chain
Entry barriers
Competitors face significant entry barriers due to the company's technical expertise, capabilities in safety-critical electronics, and strong customer engagement in highly regulated industries
Order book
The company maintains a robust and industry-leading order book, partnering with marquee customers with whom it enjoys long-standing relationships as their preferred partner
Cyient DLM Risks
Dependent on few customers
The company relies heavily on the sales of its products to a select group of key customers. In fact, the top 10 customers accounted for 91.1% of the total revenue from operations for the fiscal year ended on March 31, 2023
Highly competitive industry
As of March 31, 2022, the company held a market share of 0.5% in the Indian EMS market. It is important for the company to compete effectively in this highly competitive industry, as any failure to do so could have a significant negative impact on its business
IPO FAQs
The promoter of the company is Cyient.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 250.0 - 265.0.
The IPO application opens on Jun 27, 2023 and closes on Jun 30, 2023.
The minimum lot size for the IPO is 56. The maximum lot size for the IPO is 728.
For all category investors, the minimum application amount for this IPO is Rs. 14,840.0, the maximum value for this IPO is Rs 192,920.0.
This IPO will be allotted on Jul 04, 2023.
The refund will be credited to your account on Jul 05, 2023.
The allotted shares will be credited to your demat on Jul 06, 2023.
Cyient DLM Ltd.’s shares listed on the stock exchanges on Jul 10, 2023.