The Cyient DLM IPO has been subscribed 14.52 times on the last day of bidding, with retail investors leading the way. Retail investors subscribed 37.39 times, non-institutional investors subscribed 23.83 times, and qualified institutional buyers bid 3.44 times more than the reserved amount. The company's shares are commanding a premium of Rs 110-112 compared to the upper end of the price band. Cyient DLM is an electronic manufacturing services provider with long-term relationships with key customers. Analysts believe the company's valuation is in line with industry peers. The IPO proceeds will be used for various purposes.