Cyient approves sale of 14.50% stake worth 1.15 crore shares in Cyient DLM via block deal

Information technology (IT) services company Cyient announced on Tuesday, August 20, that its board approved the sale of a 14.5 per cent stake in its subsidiary Cyient DLM Ltd through a block deal. Cyient plans to close the stake sale of its subsidiary, Cyient DLM, on August 21, 2024.

“The Board of Directors of the company, at its meeting held today, August 20, 2024, has considered and approved the sale of up to 1.14 crore equity shares i.e. approximately 14.5 per cent of the total outstanding equity shareholding of its subsidiary, Cyient DLM Ltd, by way of a share sale utilising the block deal window mechanism provided by the stock exchanges,” said Cyient in a regulatory filing to the stock exchanges.