Shyam Metalics: The shares are likely to be listed on the BSE and NSE on June 24, 2021.
Shyam Metalics’ Rs 909 crore initial public offer (IPO) opened for subscription today i.e. June 14. The three-day IPO will remain open for trading for three days until June 16 and the shares will be offered in the price band of Rs 303-306 per share. The shares are likely to be listed on the BSE and NSE on June 24, 2021.
Shyam Metalics’ IPO consists of a fresh issue of shares amounting to Rs 657 crore and an offer-for-sale by existing shareholders, worth Rs 450 crore. The shareholders who would be offloading their stake include Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon and Narantak Dealcomm.
Retail investors can bid for a minimum one lot of 45 shares and in multiples thereof, extending to 15 lots. Ahead of the IPO, the anchor investors have invested Rs 270 crore in the IPO at a price of Rs 306 per share.
Shyam Metalics will utilise the IPO funds to repay or prepay debt and for general corporate purposes.
Shyam Metalics is a long steel products and ferro alloy company based in Kolkata, with manufacturing plants at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.
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