Cyient DLM Ltd files DRHP with SEBI for IPO Key Points:
- Cyient DLM, a subsidiary of Cyient Limited, has submitted its draft red herring prospectus to the Securities and Exchange Board of India (SEBI) for its planned initial public offering (IPO).
- The listing will take place on the BSE Limited and National Stock Exchange of India Limited (NSE).
- The Proposed Listing will include an IPO of new equity shares, with the IPO shares expected to raise up to ₹ 7,400 million.
- Cyient DLM may also decide to issue further equity shares worth up to ₹ 1,480 million before the final registration of the red herring prospectus.
- The offering may include special allocations for eligible employees and eligible Cyient shareholders.
- The final listing and price of the IPO shares is dependent on various factors including Indian regulations’ book building process, receipt of necessary approvals, and external conditions such as the current market scenario.
- It is not guaranteed that the Proposed Listing will proceed and shareholders and potential investors are advised to exercise caution when dealing with the company’s securities.
Cyient Limited has revealed that its subsidiary, Cyient DLM Ltd, has submitted its draft red herring prospectus to the Securities and Exchange Board of India (SEBI) for its planned initial public offering (IPO). The listing is set to take place on the BSE Limited and National Stock Exchange of India Limited (NSE).
The Cyient DLM stock listing on the stock exchanges, referred to as the “Proposed Listing,” will include an initial public offering (IPO) of new equity shares. The amount raised from this IPO, known as the “IPO Shares,” is expected to be up to ₹ 7,400 million. Additionally, Cyient DLM may also decide to issue further equity shares worth up to ₹ 1,480 million, with the approval of the book running lead managers, as per the laws and regulations, before the final registration of the red herring prospectus with the Registrar of Companies (Pre-IPO Placement). This offering may also include special allocations for eligible employees and eligible Cyient shareholders.
The final listing and price of the IPO Shares is dependent on various factors including the Indian regulations’ book building process, receipt of necessary approvals, and external conditions such as the current market scenario and other important considerations. It is not guaranteed that the Proposed Listing will happen, so it’s advised for shareholders and potential investors to be cautious when dealing with the company’s securities.
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