Cyient DLM IPO: Check allotment status & grey market premium

Cyient DLM, whose Rs 592 crore initial public offer (IPO) received a solid response from the investors during the bidding process, is likely to announce its allotment of shares on Wednesday, July 5, 2023.

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 super 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. Last head, Cyient DLM was commanding a premium of Rs 125 in the grey market.

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.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Cyient DLM Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
 

Bidders who could not get allotment in the IPO may see the initialisation of refunds on Thursday, June 6. Others, who would be allotted shares may see the credit of shares, in the Demat account by Friday, June 7. The listing of the IPO is likely on Monday, June 10.

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