Cyient DLM IPO: What GMP, subscription reflect as focus shifts on allotment date

Cyient DLM IPO GMP today

As mentioned earlier, Cyient DLM IPO GMP today is ₹115, which is ₹5 higher from its Friday GMP of ₹110. Market observers said that Cyient DLM IPO GMP is surging after the strong response given by the investors and strong rally on Dalal Street where all key benchmark indices climbed to a record high on Friday. Nifty, Bank Nifty and Sensex hit a new high on Friday and ended close to its higher levels that augurs further extension of the bull trend at Indian stock market, said observers. They said that grey market sentiments may further improve if the Indian stock market extends its rally on Monday and following sessions next week.

What this GMP mean?

Market observers said that Cyient DLM IPO GMP today is ₹115, which means grey market is expecting that Cyient DLM IPO listing price would be around ₹380 ( ₹265 + ₹115), which is more than 40 per cent of the Cyient DLM IPO price band of ₹250 to ₹265 per equity share. They said that grey market is signaling that Cyient DLM IPO may have a strong listing on Cyient DLM IPO listing date, which is most likely on 10th July 2023.

After three days of bidding, Cyient DLM IPO got subscribed 71.35 times whereas its retail portion got subscribed 52.17 times. It got subscribed 47.75 times in NII category whereas its QIB portion got subscribed 95.87 times.

Cyient DLM IPO details

After closure of subscription, all eyes are now focussed on Cyient DLM IPO allotment date, which is most likely on 5th July 2023. The IPO is proposed for listing on BSE and NSE and the likely date for Cyient DLM IPO listing date is 10th July 2023.

Updated: 01 Jul 2023, 01:08 PM IST