Cyient Limited ("Cyient" or the "Company") has announced that Cyient DLM Limited ("Cyient DLM"), a subsidiary of the Company, has filed its draft red herring prospectus dated January 9, 2023 with the Securities and Exchange Board of India ("SEBI") in relation to its proposed Initial Public Offering (the "IPO") for listing on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE"), (NSE, together with BSE, the "Stock Exchanges").
The proposed listing of Cyient DLM on the Stock Exchanges (the "Proposed Listing") will comprise an IPO in the form of fresh issue of new equity shares by Cyient DLM for an amount of upto ₹ 7,400 million (the "IPO Shares"). Cyient DLM in consultation with the book running lead managers, may consider a further issue of equity shares for an amount aggregating up to ₹ 1,480 million, at its discretion, as may be permitted under applicable laws, prior to the filing of the red herring prospectus with the registrar of companies ("Pre-IPO Placement"). The issue may comprise a reservation for eligible employees, and a reservation for eligible Cyient Shareholders.
The Proposed Listing and issue price of the IPO Shares are subject to many factors, including but not limited to the book building process under Indian regulations, receipt of applicable approvals and external factors such as prevailing market conditions and certain other considerations. As there is no assurance that the Proposed Listing will proceed, shareholders and potential investors are advised to exercise caution when dealing with the securities of the Company.
Shares of Cyient Limited was last trading in BSE at Rs. 830.40 as compared to the previous close of Rs. 812.75. The total number of shares traded during the day was 7799 in over 1011 trades.
The stock hit an intraday high of Rs. 832.50 and intraday low of 812.55. The net turnover during the day was Rs. 6424631.00.