Shares of Cyient DLM will be on investors' radar on Wednesday, August 21, as parent firm Cyient's board of directors, at its meeting held on August 20, 2024 (Tuesday), approved the sale of up to 1,14,99,390 equity shares, i.e., approximately 14.50% of the total outstanding equity shareholding of its subsidiary, Cyient DLM, by way of a share sale utilising the block deal window mechanism.

On Tuesday, Cyient shares settled over 6% higher at ₹1,934.05 apiece on the BSE, while Cyient DLM ended at ₹788.50, up 0.32%.

Other key details you need to know

The revenue of Cyient DLM for the financial year 2024 was ₹1,191.9 crore, and the revenue of Cyient for the financial year 2024 was ₹7,147.2 crore. Consequently, the revenue of Cyient DLM was 17% of the revenue of the company in the financial year 2024.

The net worth of Cyient DLM as of March 31, 2024 was ₹909 crore as compared to the net worth Cyient as of March 31, 2024, which was ₹4556.9 crore. Consequently, the net worth of Cyient DLM was 20% of the total net worth of the company as of March 31, 2024.

The expected date for completion of the sale or closing is August 21, 2024.

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Published on August 21, 2024, 08:59 IST