Check Cyient DLM IPO allotment: 2 methods to track application status
Cyient DLM, a leading electronic manufacturing services company, is set to announce the allotment of equity shares for its Rs 592 crore IPO on July 5, 2023. The IPO received an overwhelming response from investors during the three-day bidding period. In this article, we will discuss two methods to track the application status for the Cyient DLM IPO.
Cyient DLM a Brief Overview:
Established in 1993, Cyient DLM specializes in Electronic Manufacturing Services (EMS), offering build-to-print (B2P) and build-to-specification (B2S) services. Their comprehensive solutions include product design, flexible manufacturing services, and various key components like printed circuit board assembly, cable harnesses, and box builds. Notable customers of Cyient DLM include Honeywell International, Thales Global Services, ABB Inc, Bharat Electronics, and Molbio 152 Diagnostics.
Robust Response from Investors:
The IPO of Cyient DLM witnessed a strong response from investors, with an overall subscription rate of 71.35 times. The subscription window was open from June 27 to June 30, offering shares in the price range of Rs 250-265 per share. During this period, Cyient DLM’s stock remained stable in the grey market, commanding a premium of Rs 125 per share.
Subscription Breakdown:
The quota reserved for qualified institutional bidders (QIBs) was subscribed 95.87 times, indicating significant interest from institutional investors. Non-institutional bidders (NIIs) subscribed to the offering 47.75 times, while retail investors showed a subscription rate of 52.17 times. However, the portion reserved for employees was oversubscribed only 2.60 times.
Analyst Opinions:
Analysts have largely provided positive ratings for the Cyient DLM IPO. They have recommended subscribing to the issue due to its niche business sector, strong growth outlook, and sound promoter background. However, some analysts have expressed concerns about muted margins, declining profits, and reliance on key clients.
Tracking Allotment Status:
Investors who participated in the IPO can check their allotment status through two methods:
- Bombay Stock Exchange (BSE) Website: Visit the official website of the Bombay Stock Exchange at www.bseindia.com/investors/appli_check.aspx. Select the equity option under issue type and choose “Cyient DLM” from the drop-down menu. Enter your application number and PAN card ID to view the allotment status.
- Registrar’s Portal: Alternatively, investors can visit the registrar’s portal, which in the case of Cyient DLM, is KFin Technologies Limited. Access the registrar’s website at https://kosmic.kfintech.com/ipostatus to check if you have received the shares or not.
Also Read: PKH Ventures withdraws Rs 379 Cr IPO over QIB non-response
Important Dates:
For investors who did not receive an allotment in the IPO, refunds will be initiated on June 6, 2023. On the other hand, those who were allotted shares can expect the shares to be credited to their Demat accounts by June 7, 2023. The IPO is anticipated to be listed on June 10, 2023.
About Cyient DLM:
Cyient is a globally recognized company that excels in providing engineering and technology solutions. We work closely with our customers at every stage of their value chain, supporting them in designing, constructing, operating, and maintaining their products and services. With our expertise, customers can cultivate and maintain their leading positions in their industries and establish respected brands in the market.
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