Cyient DLM’s initial public offering (IPO) was fully subscribed on Day 1 of the book-building process, with the retail portion receiving 9.82 times subscription and non-institutional investors’ portion being booked 3.57 times. Cyient has raised INR259.64 crores ($34.7m) from 20 anchor investors prior to the IPO. The net proceeds of the IPO will be put towards general corporate purposes, the acquisition of inorganic growth, funding of capital expenditure, and prepayment/clearing of borrowings totalling INR160.9 crores. The issue concludes on Friday, 30 June 2023.