Cyient to sell 14.5% stake in Cyient DLM via block deal, floor price likely at Rs 748.65 per share

Cyient to sell 14.5% stake in Cyient DLM via block deal

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26 Aug, 2025 12:21

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IT firm Cyient said on August 20 that its board approved sale of 14.5 percent stake in subsidiary Cyient DLM through block deal.

The floor price is likely to be set at Rs 748.65 per share, around 5 percent discount to Rs 788.05 per share close on the NSE today.

"The Board of Directors of the Company, at its meeting held today, August 20, 2024 (Tuesday) has considered and approved the sale of up to 1.14 crore equity shares i.e. approximately 14.5 percent of the total outstanding equity shareholding of its subsidiary, Cyient DLM Limited, by way of a share sale utilising the block deal window mechanism provided by the stock exchanges," said Cyient in a stock exchange filing.

"The expected date for completion of the sale/ closing is August 21, 2024 or such date as mutually agreed between the Company and the buyer," added Cyient.

Cyient said it will utilise the proceeds for its capital requirements and retirement of debts.

"Our current intent is to utilize the capital proceeds arising from the Proposed Transaction towards addressing: The Company’s capital requirements, including but not limited to key investments in our recently announced Semiconductor business to support its growth, various organic and inorganic investments; and retirement of debts of the Company," said Cyient.

The investment banker to the deal is Axis Bank.

As of June 30, 2024, Cyient had 66.66 percent stake in Cyient DLM, showed exchange data.

"The revenue of Cyient DLM for the financial year 2024 was Rs 1,192 crore and the revenue of the company for the financial year 2024 was Rs 7,147 crore. Consequently, the revenue of Cyient DLM was 17 percent of the revenue of Cyient in the financial year 2024. The net worth of Cyient DLM as on March 31, 2024 was Rs 909 crore as compared to the net worth of the company as on March 31, 2024 which was Rs 4,557 crore. Consequently, the net worth of Cyient DLM was 20 percent of the total net worth of Cyient as on March 31, 2024," said Cyient in an exchange filing.

On August 20, Cyient DLM's shares on NSE closed 0.6 percent higher at Rs 789.6 apiece while those of Cyient closed 6 percent higher at Rs 1,933 apiece.