IPO - Upcoming Issues, Shyam Metalics and Energy, Click Here, The issue will close on June 16

Shyam Metalics is amongst the largest producers of ferro alloys in terms of installed capacity in India as of February 2021.

Kolkata-based integrated metal producing company Shyam Metalics and Energy on June 11 garnered Rs 269.94 crore from 22 anchor investors, ahead of its initial public offering (IPO), that opens for subscription on June 14.

The company in consultation with merchant bankers finalised allocation of 88,21,764 equity shares to anchor investors at a price of Rs 306 per equity share.

Marquee investors who participated in the anchor portion included Edelweiss Alternative Investment Opportunities Trust, Abakkus Growth Fund, Aditya Birla Sun Life, Kotak MF, Integrated Core Strategies, SBI General Insurance, Aurigin Master Fund, IIFL Asset Management, Kuber India Fund, Elara India Opportunities Fund, Nippon Life, Dovetail India Fund, L&T MF, Saint Capital Fund, and GAM Multistock.

Shyam Metalics’ Rs 909 crore IPO comprises a fresh issue of Rs 657 crore and an offer for sale (OFS) of Rs 252 crore by existing selling shareholders.

The company will utilise net proceeds from the fresh issue towards repayment of Rs 470 crore of debt, and general corporate purposes.

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The issue will close on June 16. The price band for the offer has been fixed at Rs 303-Rs 306 per share.

Shyam Metalics is amongst the largest producers of ferro alloys in terms of installed capacity in India as of February 2021. As of March 2020, it was one of the leading players in terms of pellet capacity and the 4th largest player in the sponge iron industry in terms of sponge iron capacity in India.

It has three manufacturing plants with aggregate installed metal capacity of 5.71 million tonne per annum (MTPA), and captive power plants with an aggregate installed capacity of 227 MW, as of December 2020.

ICICI Securities, JM Financial, Axis Capital, IIFL Securities and SBI Capital Markets are the book running lead managers to the offer.


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