Shares of electronic manufacturing services firm Cyient DLM Ltd made a remarkable market debut on Monday, listing with a huge premium of 52 per cent at Rs 403 per piece, against the issue price of Rs 265.
The stock made its debut at Rs 401, registering a jump of 51.32 per cent from the issue price on the BSE. It later rallied 60.15 per cent to Rs 424.40. At the NSE, shares of the company began the trade at Rs 403, climbing 52 per cent.
In traded volume terms, 7.74 lakh shares of the company were traded at the BSE and over 1.16 crore shares at the NSE during the day.
The company commanded a market valuation of Rs 3,208.33 crore.
The Initial Public Offering (IPO) of Cyient DLM got subscribed 67.30 times on the last day of subscription on June 30. The IPO had a fresh issue aggregating up to Rs 592 crore. There was no offer-for-sale (OFS) component and the price band was set at Rs 250-265 a share.
The shares were on a roll in the unlisted market a day ahead of its listing. The grey market premium (GMP) of Cyient DLM rose after the stellar listing of the ideaForge Technology on Friday.
Cyient DLM, a subsidiary of Cyient, is a leading integrated EMS and solutions provider with a focus on the entire life cycle of a product, including design, build, and maintenance.
With inputs from Agencies.
