Cyient DLM has initiated its initial public offering for subscription, with a price band of INR250-265 ($3.36-$3.55) and a proposed market capitalisation of INR2,102 crore. The entire IPO comprises fresh equity shares worth up to INR592 crore. Analysts recommend subscribing to the issue for the long term, given attractive valuations, strong growth potential and the company's focus on the entire life cycle of a product. Cyient DLM is a printed circuit board assembly solutions specialist with long-term relationships with customers such as Bharat Electronics and Thales Global Services.