Shyam Metalics IPO subscribed 1.23 times on day 1
Last Friday, the company had mopped up Rs 270 crore from anchor investors. On the first day of IPO the retail portion was booked 2.18 times.
The public offering from Shyam Metallics and Energy, which is amongst the largest ferro alloy producer in India, was subscribed 1.23 times on the first day. The company was incorporated in 2002 and has manufacturing facilities in Orissa and West Bengal.
The public issue received applications for 2.59 Crore equity shares against the total size of 2.1 Crore shares. The company also raised Rs 270 Crore from anchor investors last week.
The company plans to raise a total of Rs 909 Crores from the offering including an OFS (Offer for Sale) of Rs 252 Crores and a fresh issue worth Rs 657 Crores. The raised proceeds are to be utilized for repaying debts.
Efficiently Launch your finance learning journey
