Shyam Metalics IPO opens on June 14: All you need to know

NEW DELHI: The initial public offer (IPO) of Shyam Metalics and Energy will hit the Street on Monday. The producer of long steel products is looking to raise about Rs 909 crore from a mix of fresh issue and offer for sale.

It is looking to use the net proceeds from the fresh issue mainly towards repayment or prepayment of its debt and that of its subsidiary, Shyam SEL and Power, and for other general corporate purposes.

Here are the key things you should know about the issue.

  1. When will the Shyam Metalics IPO open for subscription?
    Shyam Metalics IPO will open for subscription on Monday, June 14, and will close on Wednesday, June 16.
  2. What is the price band for Shyam Metalics IPO?
    The price band for Shyam Metalics and Energy IPO has been fixed at Rs 303-306.
  3. What is the lot size for Shyam Metalics IPO?
    Investors can subscribe to the IPO by betting for a lot of 45 shares or in multiples thereof. Retail investors can bid for a maximum of 14 lots.
  4. What is the issue size of Shyam Metalics IPO?
    The issue comprises fresh issuance of shares, aggregating up to Rs 657 crore, and an offer for sale of up to Rs 252 crore by existing shareholders.
  5. Why did Shyam Metalics cut the issue size?
    Sources told that the decision was taken based on the feedback received from a potential investor during the roadshows, who showed apprehension over the OFS size.
  6. What is the quota reserved for retail investors in Shyam Metalics IPO?
    The quota for retail investors in Shyam Metalics IPO is fixed at 35 per cent of the net offer. QIB quota is fixed at 50 per cent, while the NII at 15 per cent.
  7. Is there any employee quota in Shyam Metalics IPO?
    Yes. Up to 300,000 shares will be offered to eligible employees on a proportionate basis.
  8. When will the basis of allotment be finalised for Shyam Metalics IPO?
    The finalisation of the basis of allotment is likely by June 21 and the initialisation of refunds is likely by June 22. Meanwhile, credit of shares in the demat account is likely to happen by June 23.
  9. On what date will Shyam Metalics IPO list?
    Shyam Metalics is likely to get listed by June 24.
  10. Where could we check Shyam Metalics IPO allotment status?
    Those who would bid for the issue can check the subscription status on the online portal of KFintech Private Limited, the registrar to the IPO.
  11. Who are the leading book managers to the issue?
    ICICI Securities, JM Financial, Axis Capital, and SBI Capital Markets are the BRLMS to the offer.
  12. What does Shyam Metalics do?
    Shyam Metalics is a producer of intermediate and long steel products, such as iron pellets, sponge iron, steel billets, TMT, structural products, wire rods, and ferroalloys. It also focuses on high-margin products such as customised billets and specialised ferroalloys for special steel applications.
  13. Who are the listed peers of Shyam Metalics?
    Some of the listed peers of the company are Long Products and Tata Metaliks.

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