Electronic manufacturing services and solutions provider Cyient DLM has filed with market regulator SEBI a draft red herring prospectus (DRHP) for an initial public offering (IPO) that will include a new offering worth up to £7.40 billion includes.
The Company intends to use the funds raised through the IPO to fund additional capital requirements, capital expenditures, debt repayment/prepayment, achieving inorganic growth through acquisitions, and for general corporate purposes.
Cyient DLM said that in consultation with the underwriters of the underwriter, it will consider a further offering of certain securities, including through a private placement, a rights issue, a preferential offering or other method at its discretion, for an aggregate amount of ₹148 crore filing the Red Hering prospectus with the Registrar of Companies.
The company has three manufacturing facilities located in Hyderabad, Bengaluru and Mysore with a total manufacturing area of 22,061 square feet. It is a manufacturing partner and system supplier for global OEMs in the aerospace, defense, medical and industrial sectors. Engineering service provider Cyient is the promoter of Cyient DLM.
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