Shyam Metalics: The shares are more likely to be listed on the BSE and NSE on June 24, 2021.
Shyam Metalics’ Rs 909 crore preliminary public supply (IPO) opened for subscription in the present day i.e. June 14. The three-day IPO will stay open for buying and selling for 3 days till June 16 and the shares will likely be provided within the value band of Rs 303-306 per share. The shares are more likely to be listed on the BSE and NSE on June 24, 2021.
Shyam Metalics’ IPO consists of a recent challenge of shares amounting to Rs 657 crore and an offer-for-sale by current shareholders, price Rs 450 crore. The shareholders who could be offloading their stake embody Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon and Narantak Dealcomm.
Retail buyers can bid for a minimal one lot of 45 shares and in multiples thereof, extending to fifteen heaps. Ahead of the IPO, the anchor buyers have invested Rs 270 crore within the IPO at a value of Rs 306 per share.
Shyam Metalics will utilise the IPO funds to repay or prepay debt and for normal company functions.
Shyam Metalics is a protracted metal merchandise and ferro alloy firm primarily based in Kolkata, with manufacturing vegetation at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.
