Cyient DLM IPO subscribed 67 times on final day

Cyient DLM's initial public offer (IPO), to raise an estimated Rs 592 crore, was subscribed 67.3 times on June 30 — the final day of the bidding process. At the end of the day, the public offer received bids for 89.7 crore shares as against the 1.3 crore shares on offer, according to provisional exchange data. 

The IPO of Cyient DLM, a provider of electronic manufacturing services and solutions, received a strong response from retail investors on the first day. 

The IPO of Cyient DLM, a subsidiary of Cyient, comprises fresh issuance of shares. 

Here are some of the key things to know about the Cyient DLM IPO:

Cyient DLM IPO dates

Under the IPO, potential investors could bid for Cyient DLM shares in a price band of Rs 250-265 apiece in multiples of 56, translating to Rs 14,000-14,840 per lot. 

EDITOR'S TAKE | What market wizard Anil Singhvi recommends

 Zee Business Managing Editor Anil Singhvi recommended applying for the Cyient DLM IPO for listing gains and from a long-term perspective. The market guru pointed out that the valuation demanded is "neither cheap nor very high".

He identified the following positives and negatives about the company: 

Positives

• Reputed promoter background
• No criminal litigation against the company, its promoters or directors
• A strong growth outlook
• Strong names in the anchor book

Negatives

• High dependency on imported raw material 
• Valuations reasonable; not cheap, not very high

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