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Cyient's Semiconductor Arm to Raise Up To $30 Million in Financing

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Cyient Semiconductors, a subsidiary of Cyient (NSE:CYIENT, BOM:532175), is raising up to $30 million from funds managed by EAAA India Alternatives and affiliated co-investors, according to a Monday filing to the Indian stock exchanges.

The transaction includes an equity investment of approximately $10 million at a post-money equity valuation of $500 million, along with structured debt capital of $20 million.

The funding will help the company to strengthen its capital structure and support the expansion of its semiconductor business.

The transaction is subject to definitive agreements and customary closing conditions.

Cyient's shares were up over 1% in recent trade.

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