Cyient DLM IPO: Shares Debut At A Premium of 52% On NSE

Today, July 10, Cyient DLM IPO made its market debut. The stock was listed for Rs 403 per share on the NSE and Rs 401 per share on the BSE, both of which were 52.1 per cent over the issue price. Cyient DLM had fixed its price range of Rs 250 to Rs 265 per share for its IPO. On Tuesday, June 27, the public issue went on sale for subscription. It ended on Friday, June 30.

Retail, qualified institutional buyers (QIBs), and non-institutional investors (NIIS) responded well to the offering on the last day of subscription. The portions for retail investors, QIBs, NII, and employees were each subscribed to 52.17 times, 95.87 times, 47.75 times, and 2.60 times, respectively. Cyient DLM IPO subscribed 71.35 times during its last day of subscription. The Total Number of shares bid were 89,73,69,872 as against the shared offered of 1,25,77,638.

10% of the shares in the initial public offering (IPO) were set aside by the firm for retail investors, 15% for non-institutional investors, and 75% for qualified institutional buyers (QIB). The issue's lead managers were JM Financials and Axis Capital, while Kfin Technologies is in charge of serving as the issue's IPO registrar.

Commenting on the healthy listing of Cyient DLM IPO on Dalal Street, A R Ramachandran, Co-founder & Trainer - Tips2trades said "Cyient DLM, despite an excellent listing looks overvalued due to high debt-equity ratio and investors should book listing gains and wait for a dip near support of 333 to initiate fresh buy positions."

Nirav Karkera, Head of Research, Fisdom said "The company operates in a highly promising segment and reflects attractive growth prospects. The company's financial profile is also healthy to a great extent. Fundamentally, the company is well-positioned to gain from the opportunity. Short-term investors could look to book profits partially while long-term investors would benefit from waiting till the stock price finds strong support beyond the listing buzz."

Cyient DLM IPO made its market debut in the market today and made its investors happy with almost 52.10% listing gains. Those who have missed this IPO should not feel FOMO (Fear of Missing Out). Because if, any stock or business has a potential it will be visible in secondary markets too. Currently, at 409 It is looking good to buy 412 level with a stop loss at 390. Target to 430/450/470/500/510/530/550 and those who have IPO allotment in it they should also consider the same levels further Hold can according to V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

On the other hand, on Monday, Global Pet Industries Ltd. shares were listed on the NSE SME exchange with a healthy premium. Global Pet Industries get listed at Rs 52 per share, as against the issue price of Rs 49 on the NSE SME exchange, which implies a premium of 6.1 per cent higher than the issue price. The subscription period for the Global Pet Industries initial public offering (IPO) began on June 28 and ended on July 3. Global Pet Industries IPO is an SME IPO of 2,700,000 equity shares of a face value of Rs 10 aimed to raise Rs 13.23 Crores via IPO.

Disclaimer

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