Shyam Metalics announces launch of initial public offering
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08 Jun 2021
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Shyam Metalics and Energy Ltd. has announced public offering of 29705883 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 296.00 per share. The gross proceeds of the issue are expected to be Rs 90,900.00 lakhs. The company's initial public offer (IPO) will open on 14 June 2021 and is expected to close on 16 June 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 303.00-306.00 per share. The IPO includes a fresh Issue of 29705883 Equity Shares of the Company at an price of Rs 306.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 45 shares with bids in multiples of 45. Shyam Metalics and Energy Ltd. anticipates using the proceeds of the issue for Repayment and/or prepayment, in full or part, of debt of the Company and SSPL, one of the Subsidiaries, General corporate purposes. Axis Capital Ltd.,JM Financial Ltd.,SBI Capital Markets Limited,IIFL Securities Ltd.,ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue. |
| Source: Dion Global Type: IPO Related |
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