Cyient DLM IPO allotment today; Here are two ways to check application status

Cyient DLM is likely to finalize the basis of allotment of its equity shares for its Rs 592 crore IPO on Wednesday, July 05, 2023. The initial public offering of electronic manufacturing services company received a robust response from the investors during the three-day bidding process.

Incorporated in 1993, Cyient DLM provides Electronic Manufacturing Services (EMS) as build to print (B2P) and build to specification (B2S) services including product design, and flexible manufacturing services tailored to meet their specific requirements.

The IPO of electronic manufacturing services (EMS) company received a strong response from the investors and was overall subscribed 71.35 times. The issue was open for subscription between June 27-30 in the price range of Rs 250-265 per share. Cyient DLM remained stable in the grey market and was commanding a premium of Rs 125 per share.

The quota reserved for qualified institutional bidders (QIBs) was subscribed 95.87 times, while the portion for non-institutional bidders (NIIs) was booked 47.75 times. The allocation of retail investors was subscribed 52.17 times, while the portion for employees was booked only 2.60 times.

The core solutions provided by Cyient DLM encompass various key components, including printed circuit board assembly, cable harnesses, and box builds. These components play a crucial role in safety of critical systems. and its key customers include Honeywell International, Thales Global Services, ABB Inc, Bharat Electronics, and Molbio 152 Diagnostics among others.

The issue has majorly garnered positive rating from the analysts who have suggested subscribing to the issue citing niche business sector, strong growth outlook and sound promoter background. However, a few have flagged muted margins, dropping profits and dependence on key clients as the biggest concerns.

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Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website, which is www.bseindia.com/investors/appli_check.aspx. One can check the equity option under issue type and select the company name from the dropbox. Then, one just needs to fill in the application number and PAN card ID to check the allotment status.

The second alternative to check the allotment status is visiting the registrar's portal, which is KFin Technologies Limited in the case of Cyient DLM. Investors can also check the allotment status on the website of the registrar at https://kosmic.kfintech.com/ipostatus to see if they have received the shares or not.

Bidders who could not get allotment in the IPO may see the initialization of refunds on Thursday, June 06. Others, who would be allotted shares may see the credit of shares, in the Demat account by Friday, June 07. The listing of the IPO is likely on Monday, June 10.

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