Cyient DLM

The story of Cyient DLM begins not with its own incorporation, but with its parent company, Cyient, founded in 1991 by B. V. R. Mohan Reddy as Infotech Enterprises. Reddy, an engineer with degrees from IIT Kanpur and the University of Michigan, envisioned an Indian company providing high-value engineering services to global markets. This foundation in complex engineering set the stage for a future move into manufacturing. That move came in 2015, when Cyient acquired a 74% stake in Mysore-based Rangsons Electronics. Founded in 1993, Rangsons was an electronics system design and manufacturing (ESDM) services company. This acquisition was the genesis of Cyient DLM. By integrating Rangsons' manufacturing capabilities, Cyient could offer a more complete package, from design to production. The division provides electronic manufacturing services, creating crucial components like printed circuit board assemblies and cable harnesses for safety-critical systems in the aerospace, defense, and medical industries. This strategy allows them to provide both "Build to Print" services, where they manufacture based on a client's design, and "Build to Specification" services, where they handle the design process as well. A pivotal moment arrived in the summer of 2023 when Cyient DLM launched its Initial Public Offering (IPO). The IPO, which opened on June 27, 2023, was a fresh issue of shares, indicating the capital was intended to fuel further growth rather than provide an exit for existing shareholders. The successful listing on the BSE and NSE on July 10, 2023, marked a new chapter, validating its journey from a regional manufacturer to a publicly-traded subsidiary of a global engineering powerhouse.