Cyient DLM IPO will open for subscription from 27 June 2023. the company aims for an issue size of ₹592 Cr through this IPO.
Company Overview
| Full name | Cyient DLM Limited |
| Sector | Capital Goods |
| Industry | Electrical Equipment |
| Company Website | https://www.cyientdlm.com/ |
About Company
Incorporated in 1993, Cyient DLM is one of the leading integrated Electronic Manufacturing Services (‘EMS’) and solutions providers with strong capabilities across the value chain and the entire life cycle of a product. With over two decades of experience in developing high-mix, low-to-medium volume highly complex systems, it is a qualified supplier to global OEMs in the aerospace and defense, medical technology, and industrial sectors.
The company provides clients with Electronic Manufacturing Services such as Build to Print (‘B2P’) and Build Specification (‘B2S’) services. B2P solutions involve clients designing the product for which it provides agile and flexible manufacturing services. And, B2S services involve designing the relevant product based on the specifications provided by the client and manufacturing the product.
- Cyient DLM’s solutions primarily comprise:
- Printed circuit board (‘PCB’) assembly (‘PCBA’),
- Cable harnesses and Box builds are used in safety-critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment
The company’s client list includes Honeywell International Inc. (“Honeywell”), Thales Global Services S.A.S (“Thales”), ABB Inc, Bharat Electronics Limited, Molbio 152 Diagnostics Private Limited, and so on.
The company’s manufacturing infrastructure comprises three facilities spread across two states in India, at Mysuru, Hyderabad, and Bengaluru, with a total manufacturing area of 229,061 sq. ft. Mysuru facility has a manufacturing area of 65,929 sq. ft.
The Objective 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, and
- General corporate purposes.
Cyient DLM IPO Timetable
| IPO Opening date | 27 June 2023 |
| IPO Closing | 30 June 2023 |
| Basis of Allotment | 05 July 2023 |
| Initiation Refund | 06 July 2023 |
| Credit to Demat Account | 07 July 2023 |
| Listing Date | 10 July 2023 |
Cyient DLM IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹592 Cr – 22,339,623 shares |
| Fresh Issue | ₹592 Cr – 22,339,623 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹250 to ₹265 per share |
| Lot size | 56 Shares |
| Retail Allocation | 10% |
| Employee Discount | ₹ 15 per share |
| Listing Exchange | BSE & NSE |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 56 | ₹14,840 |
| Retail (Max) | 13 | 728 | ₹192,920 |
| S-HNI (Min) | 14 | 784 | ₹207,760 |
| S-HNI (Max) | 67 | 3,752 | ₹994,280 |
| B-HNI (Min) | 68 | 3,808 | ₹1,009,120 |
Reservation Details
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 628.03 | 720.53 | 832.03 |
| Expenses | 621.32 | 677.75 | 795.18 |
| Net income | 11.81 | 39.80 | 31.73 |
| Margin (%) | 1.88 | 5.52 | 3.81 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 4.80 | 16.17 | 7.75 |
| PE ratio | – | – | 32.26 – 34.19 |
| RONW (%) | 31.38 | 51.61 | 16.03 |
| NAV | 15.30 | 31.34 | 48.33 |
| ROCE (%) | 11.48 | 17.56 | 13.48 |
| EBITDA (%) | 7.32 | 11.66 | 10.55 |
| Debt/Equity | 7.41 | 4.37 | 1.80 |
Company Promoters
- Cyient Limited.
Promoter Holding
| Pre Issue Share Holding | 92.84% |
| Post Issue Share Holding | 66.68% |
Lead Manager(s)
- Axis Capital Limited
- Jm Financial Limited
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium, Tower B, Plot No. 31 and 32 Financial
District Nanakramguda, Serilingampally Hyderabad,
Rangareddi 500 032 Telangana, India
Phone: +91 40 6716 2222 / 18003094001
Email: cyientdlm.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
CYIENT DLM LIMITED
347, D1 & 2, KIADB Electronics City,
Hebbal Industrial Area, Mysuru 570 061, Karnataka
Phone: +91 821 4000 500
Email: company.secretary@cyientdlm.com
Website: www.cyientdlm.com
Allotment Status
Cyient DLM IPO allotment will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Cyient DLM IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
