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HDFC Securities Retail Research
Cyient DLM Ltd. is one of the leading integrated electronic manufacturing services and solutions providers with capabilities across the value chain and the entire life cycle of a product.
It has over 22 years of experience in developing high mix, low-to-medium volume highly complex systems. It is a qualified supplier to global original equipment manufacturers in the aerospace and defence, medical technology and industrial sectors. ‘low volume, high mix’ is a type of a contract manufacturing setup which typically has a very high emphasis on quality and customisation which changes according to the requirements of the customer.
Objects of Issue:
The company proposes to utilise the net proceeds towards funding the following objects:
Funding incremental working capital requirements of the company funding capital expenditure of the company.
Repayment/prepayment, in part or full, of certain of its borrowings; achieving inorganic growth through acquisitions; and
General corporate purposes.
Further, Cyient DLM proposes to utilise the proceeds of the pre-IPO placement towards general corporate purposes. In addition, Cyient DLM expects to receive the benefits of listing of the equity shares on the stock exchanges, including enhancement of its brand name and creation of a public market for its equity shares in India.
The IPO opens on June 27 and closes on June 30; sets price band at Rs 250-265 per share.
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