Public Market

IPO

Shyam Metalics raises Rs.270-Cr from anchor investors

Economic Times  

Shyam Metalics and Energy raised INR 270 crore from anchor investors ahead of its initial public offer (IPO). The company has allotted 88.21 lakh shares to 21 anchor investors at INR 306 per share in a pre-IPO anchor issue. It allotted 60.45 lakh shares to 12 domestic institutional investors including four mutual funds, two insurance companies and six alternative investment funds. Nippon India Mutual Fund, Aditya Birla Sunlife Mutual Fund, White Oak, Kotak Mutual Fund, L&T Mutual Fund, IIFL and Abakkus Asset Managers, were the major DIIs that participated. The company allotted 27.75 lakh shares to nine foreign portfolio investors. ICICI Securities, JM Financial, Axis Capital, IIFL Securities and SBI Capital Markets are the book running lead managers to the issue.