Cyient announced that Cyient DLM, a subsidiary of the company, has filed its draft red herring prospectus dated 09 January 2023 with the Securities and Exchange Board of India (SEBI) in relation to its proposed Initial Public Offering (IPO) for listing on BSE and National Stock Exchange of India (NSE).
The proposed listing of Cyient DLM on the stock exchanges will comprise an IPO in the form of fresh issue of new equity shares by Cyient DLM for an amount of upto Rs 740 crore. Cyient DLM in consultation with the book running lead managers, may consider a further issue of equity shares for an amount aggregating up to Rs 148 crore, 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.
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