Shyam Metalics To List On The Bourses On June 24

Shyam Metalics IPO consisted of a fresh issue of Rs 657 crore and an offer-for-sale of Rs 450 crore by existing shareholders, including Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon and Narantak Dealcomm

Shyam Metalics' shares will list on the BSE Sensex and NSE Nifty on June 24. The IPO, which was open for three days from June 14 to June 17, consisted of a fresh issue of Rs 657 crore and an offer-for-sale of Rs 450 crore by existing shareholders, including Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon and Narantak Dealcomm. The issue was subscribed over 120 times. The shares were offered in the price band of Rs 303-306 per share. Ahead of the IPO, Shyam Metalics raised Rs 270 crore from anchor investors at a price of Rs 306 per share. Shyam Metalics is a long steel products and ferro alloy company based in Kolkata, with manufacturing plants at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.