New Delhi: Investors of Cyient DLM Ltd had a reason to rejoice as the shares of the recent IPO debuted on the exchange with a remarkable 52% premium against the issue price on Monday. The stock was valued at Rs 403 per share on the National Stock Exchange (NSE) and Rs 401 on the Bombay Stock Exchange (BSE).
Read More: Stock Market Holiday: BSE, NSE To Remain Shut Today On Account Of Bakri Eid
This successful listing comes on the heels of the phenomenal IPO listing of ideaForge on Friday, adding to the double happiness experienced by investors amidst the recent highs in the stock market. Last week, both the Sensex and Nifty reached all-time highs, with the Sensex surpassing the 65,000 mark for the first time, while the Nifty touched the 19,000 mark.
About Cyient DLM IPO:
The Cyient DLM IPO was open for subscription from June 27 to June 30, aiming to raise fresh funds worth Rs 592 crores through equity shares. The price band for the IPO was set between Rs 250 to Rs 265 per share, with a face value of Rs 10. Eligible employees were offered a discount of Rs 15 per equity share.
Axis Bank Limited and HDFC Bank Limited acted as the sponsors for the IPO, with KFin Technologies Limited serving as the registrar.
The minimum order quantity for the IPO was 56 equity shares, with subsequent bids required to be in multiples of 56 shares.
Read More: Senco Gold IPO Opens On July 4: Check Price Band, Other Key Details
For retail investors, the maximum subscription amount allowed was Rs. 2,00,000, while eligible employees had a higher limit of Rs. 5,00,000. Qualified Institutional Buyers (QIBs) could bid for a maximum of 12,693,968 equity shares in multiples of 56 shares (calculated at the lower end of the price band). Non-Institutional Bidders (NIBs) had a maximum bid quantity of 6,370,000 equity shares in multiples of 56 shares (calculated at the lower end of the price band).
