The shares of cyient Ltd. zoomed 5.95 per cent on the National Stock Exchange. The stock opened at Rs 1,974.00 per share. Cyient Ltd. shares touched a day-high price of Rs 1,974.00 on Indian bourses.
The stock had a recorded 52-week high and an all-time high at the same price of 2,458.95 on the National Stock Exchanges on December 22, 2023.
The board of directors of parent company Cyient approved the sale of up to 1,14,99,390 equity shares, or roughly 14.50 per cent of the total outstanding equity shareholding of its subsidiary, Cyient DLM, through a share sale using the block deal window mechanism.
Cyient DLM stock reaction
The shares of Cyient DLM, which were trading around Rs 765.65 per share on the Bombay Stock Exchange at 10.39 am, were declined by 2.80 per cent. The stock has touched a day-high level of Rs 791.00 per share on the Indian bourses.
Cyient DLM |
The stock recorded a 52-week high as well as an all-time high level of Rs 883.80 per share on February 26, 2024, on the Bombay Stock Exchange.
Cyient DLM Ltd
In the fiscal year 2024, Cyient DLM brought in Rs 1,191.9 crore, while Cyient itself brought in Rs 7,147.2 crore to the table. As a result, in the fiscal year 2024, Cyient DLM's revenue accounted for 17 per cent of the overall company's revenue.
As of March 31, 2024, Cyient DLM had a net worth of Rs 909 crore, while Cyient had a net worth of Rs 4556.9 crore at the same time. As a result, on March 31, 2024, Cyient DLM's net worth accounted for 20 per cent of the company's total net worth.
August 21, 2024, is the anticipated date on which the sale or closing will be completed.
Cyient DLM IPO
In July 2023, shares of Cyient DLM, a company that provides electronic manufacturing services, were first listed on exchanges at a significant 52 per cent premium over the issue price of Rs 265.
Cyient DLM's initial public offering (IPO) received 67.30 subscriptions overall.A new issue totalling up to Rs 592 crore was part of the IPO. The offer-for-sale (OFS) component was absent.
