Public Market

IPO

Shyam Metalics IPO subscribed 121.4 times

MoneyControl  

The public offer of Shyam Metalics and Energy received subscription of 121.43 times as investors put in bids for over 256.11 crore equity shares against an offer size of 2.1 crore equity shares. The portion set aside for qualified institutional buyers was subscribed 155.71 times and that of non-institutional investors, 340 times. The reserved portion of retail investors witnessed subscription of 11.64 times and that of employees, 1.55 times. Shyam Metalics, an integrated metal producing company with a focus on long steel products and ferro alloys, opened its INR 909-crore public issue comprising a fresh issue of INR 657 crore, and an offer for sale of INR 252 crore by existing shareholders. The company has already mopped up INR 270 crore from anchor investors at the higher end of the price band of INR 303-306 per share. The company has plans to increase its manufacturing capacity from 5.71 MTPA to 11.60 MTPA by 2025. It also plans to add manufacturing facilities for ductile pipe, blast furnace and aluminium foil.