India's Cyient DLM extends gains after blockbuster listing

ideaForge Technology

11/07/2023 05:31

** Shares of Cyient DLM Ltd  CYIT.NS  rise as much as 9.8%
to 461.75 rupees
    ** CYIT, which listed on Monday, opened at 403 rupees – a
52.1% premium to its offer price of 265 rupees
    ** IPO of integrated electronic manufacturing services co
was oversubscribed 90.44x among qualified institutional buyers,
nearly 50x among retail investors
    ** Last week, drone maker Ideaforge Technology Ltd  IDEF.NS 
opened at 1,300 rupees – a 93.5% premium to its offer price of
672 rupees
    ** Over 3.8 mln CYIT shares change hands by 9:55 a.m. IST
    ** Stock up 14.6% since listing


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))