Cyient DLM IPO to open for subscription on June 27. Check details

Cyient DLM’s initial public offering (IPO) will open on June 27 and close on June 30, with a pre-IPO placement of 40.75 lakh shares reducing the value of the issue from Rs 740 crore to Rs 592 crore. As a subsidiary of Cyient, the company creates low-volume electronics for safety-critical segments like inflight systems, and revenue for FY23 reached Rs 832 crore with a 4% profit. The IPO aims to provide funds for working capital, capital expenditure, and general corporate purposes, with Axis Capital, JM Financial, and KFin Technologies leading the IPO process.