Cyient DLM, an Electronic Manufacturing Services and solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a ₹740-crore initial public offering (IPO).
The company, which is promoted by Hyderabad-based Cyient Limited, said it might consider raising ₹148 crore by way of a private placement, rights issue or preferential offer prior to the filing of the DRHP with the Registrar of Companies.
“The funds raised through the IPO are proposed to be utilised for funding incremental capital requirements, capital expenditure, debt repayment, and for acquisitions.
The company develops solutions for global OEMs (original equipment manufacturers) in the aerospace and defence, medical technology and industrial sectors.
Cyient DLM has three manufacturing facilities in Hyderabad, Bengaluru and Mysore, with a total manufacturing area of 2.29 lakh sq ft.