Shyam Metalics’ Rs 909 crore initial public offer will open on June 14. The three-day initial public offer (IPO) will close on June 16. The company has fixed the price band for its primary market offering at Rs 303-306 per share. The shares are likely to be listed on the BSE and NSE on June 24, 2021,
Shyam Metalics’ IPO will involve a fresh issue of shares worth up to Rs 657 crore and an offer-for-sale amounting to Rs 450 crore by existing shareholders, including Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon and Narantak Dealcomm. Bidding for anchor investors will be held ahead of the IPO, on June 11.
Retail applicants can bid for a minimum one lot of 45 shares and in multiples thereof, extending to 15 lots.
Shyam Metalics plans to utilise the IPO proceeds to repay or prepay its debt and that of its subsidiary, Shyam SEL and Power, and for other general corporate purposes.
Shyam Metalics is a Kolkata-based long steel products and ferro alloy company. It has manufacturing plants at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.