Cyient DLM shares list at 52% premium on bourses

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Shares of electronic manufacturing services company Cyient DLM Ltd made a stellar debut in the market on Monday, listing at a huge premium of 52 per cent, against the issue price of ₹265.

The stock debuted at ₹401, marking a jump of 51.32 percent from the issue price on BSE. It later increased by 60.15 percent to INR 424.40.

On NSE, shares of the company started trading at ₹403, rising by 52 per cent.

In terms of trading volume, 7.74 thousand shares of the company’s shares were traded on the Bahrain Bourse and more than 1.16 crore shares on the New York Stock Exchange during the day.

The company commanded a market valuation of ₹3,208.33 crore.

The initial public offering (IPO) for Cyient DLM was oversubscribed 67.30 times on the last offering day of June 30.

The IPO had a fresh issue of Rs 592 crore. There was no offer-for-sale (OFS) component.

The company’s IPO had a price range of 250 to 265 rupees per share.

Cyient DLM, a subsidiary of sientis a leading provider of EMS and turnkey solutions with a focus on the full life cycle of a product, including design, construction and maintenance.