Cyient DLM Ltd raises over Rs 259.64 cr from 20 anchor investors ahead of IPO
Cyient DLM Limited has raised Rs 259.64 crores from 20 anchor investors, ahead of its initial public offering (IPO). Eight Domestic Mutual Funds have applied through a total of 11 schemes.
The company has decided to allot 97,98,113 Equity Shares to Anchor Investors at Anchor Investor Allocation Price of ₹ 265/- per Equity Share (including share premium of ₹ 255/- per Equity Share). The anchor book saw participation from a wide variety of marquee investors, including Nippon Life India Small Cap, ICICI Prudential, HDFC MF, Tata Infrastructure Fund, Societe General, LIC MF, Amansa Holdings, DSP India, Aditya Birla Sun Life, Edelweiss MF, Founders Collective Fund, Catamaran EKAM, Vikasa India, BNP Paribas Arbitrage, and Kotak MF.
The Company’s initial public offering comprises a fresh issue of Equity Shares aggregating up to ₹ 5,920.00 million (Rs. 592 Crores). The Price Band for the Issue has been fixed from ₹ 250 per Equity Share to ₹ 265 per Equity Share. The issue will open for subscription on Tuesday, 27th June 2023 and conclude on Friday, 30th June 2023. The Company has in consultation with the BRLMs, undertaken a pre-IPO placement of 4,075,471 Equity Shares aggregating to ₹ 1,080.00 million (Rs 108 Crores).
