Shyam Metalics' IPO: The shares are most likely to be listed on the BSE and NSE on June 24, 2021Shyam Metalics' Rs 909 crore preliminary public offer will open on June 14.
The three-day preliminary public offer (IPO) will close on June 16.
The company has repaired 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 include a fresh concern of shares worth approximately Rs 657 crore and an offer-for-sale amounting to Rs 450 crore by existing investors, including Subham Capital, Subham Buildwell, Kalpataru Housefin - Trading, Dorite Tracon and Narantak Dealcomm.
Bidding for anchor financiers 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, encompassing 15 lots.Shyam Metalics prepares to use the IPO proceeds to pay back or prepay its financial obligation 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 producing plants at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.