IPO market booms as blockbuster listings draw investors to newly listed stocks
Year-end review of the Indian IPO market in 2023 and cues to take into 2024.
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Year-end review of the Indian IPO market in 2023 and cues to take into 2024.
WDAY earnings call for the period ending September 30, 2023.
Integrated electronic manufacturing services provider Cyient DLM made a strong debut on the stock exchanges, with shares listing at a premium of 52% over the IPO issue price of Rs 265 on NSE. The company's IPO received a massive response from investors with an overall subscription at 71.3 times. Cyient DLM will use the net proceeds from the issue to fund incremental working capital requirements, capital expenditure, repayment of debt and other general corporate purposes.
Cyient DLM | We have also seen an increase in its premium in the grey market, to 52-57 percent from 45-49 percent eariler, especially ahead of its debut on Monday, analysts said on anonymity.
Cyient DLM listed at a premium of 52 percent and rose further to trade at Rs 406.85, up 54 percent from the issue price. Analysts say valuation is now expensive and hard to sustain but the stock is a long-term play