Shyam Metalics IPO: The IPO will close on June 16. The bidding for anchor investors will open on June 11.
The Rs 1,107 crore Initial Public Offering (IPO) of Shyam Metalics and Energy Ltd will open on June 14. He said that the IPO will close on June 16. The bidding for anchor investors will open on June 11. According to the details given by the company to the market regulator SEBI, new shares of up to Rs 657 crore will be issued in the IPO. In addition, the existing shareholders will sell their existing shares worth Rs 450 crore through an offer for sale on the market platform.
Shareholders participating in the offer of sale are Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon, Narantak Dealcomm and Toplight Mercantiles. (Toplight Mercantiles) are included.
This Kolkata based company deals in Long Steel Products (Angle/Girder/Rebar) and Ferro Alloys. The company has established a team of 42 distributors in 13 states and one union territory. It has a total of three factories at Sambalpur in Odisha and Jamuria and Mangalpur in West Bengal.
These are the managers of the IPO
Shyam Metaliks has appointed ICICI Securities, Axis Capital, IIFL Securities, JM Financial and SBI Capital as its lead managers for this IPO.
According to the company’s draft red herring prospectus (DRHP) submitted to SEBI, the company will issue fresh equity shares worth Rs 657 crore for this public issue. At the same time, the promoters and existing investors of the company will issue shares worth Rs 450 crore through offer for sale (OFS).
Papers were submitted from IPO in 2018 also
The company has tried to capitalize on the capital market in the past as well. It had also submitted the draft paper for the IPO with SEBI in 2018 and even got approval from the regulator. However, the company postponed its plans to list on the stock exchanges.
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