Cyient DLM has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO).
The funds raised through the IPO would be utilised for funding incremental capital requirements, capital expenditure, debt payment, achieving inorganic growth through acquisitions as well as for general corporate purposes. Axis Capital and JM Financial are the book running lead managers to the issue. The equity shares of the company will be listed on the BSE and NSE.
Cyient DLM, a subsidiary of Cyient, is the leading integrated EMS and solutions provider with a focus on the entire life cycle of a product, including design, build and maintenance. It has three state manufacturing facilities in Hyderabad, Bengaluru and Mysore.
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