Cyient Limited on Tuesday announced that its subsidiary company Cyient DLM Limited filled its draft red herring prospectus for an Initial Public Offering on Monday with Securities Exchange Board of India (SEBI) through an exchange filing. The proposed listing will consist of a fresh issue of new equity shares by Cyient DLM for up to Rs 740 crore.
The company added that it may consider a further issue of shares for Rs 148 crore in compliance with the applicable law. The issue may also comprise a reservation for eligible employees and eligible Cyient shareholders.
On Tuesday, at 10:55 am IST, the shares of Cyient Limited were at Rs 834.05, up by 0.45 per cent.
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