Shyam Metalics and Vitality raises Rs 270 crore from anchor investors forward of IPO

Shyam Metalics will originate its Rs 909 crore IPO on June 14, which features a fresh discipline of Rs 657 crore and an provide on the market of Rs 252 crore by existing promoting shareholders.

June 11, 2021 / 10: 20 PM IST

Shyam Metalics is amongst the largest producers of ferro alloys in terms of installed capacity in India as of February 2021.

Shyam Metalics is amongst the largest producers of ferro alloys by intention of build in skill in India as of February 2021.

Kolkata-essentially essentially based integrated metal producing firm Shyam Metalics and Vitality on June 11 garnered Rs 269.94 crore from 22 anchor investors, forward of its preliminary public offering (IPO), that opens for subscription on June 14.

The firm in session with provider provider bankers finalised allocation of 88,21,764 equity shares to anchor investors at a price of Rs 306 per equity piece.

Marquee investors who participated in the anchor allotment integrated Edelweiss Different Funding Alternatives Belief, Abakkus Roar Fund, Aditya Birla Solar Life, Kotak MF, Built-in Core Suggestions, SBI Customary Insurance, Aurigin Grasp Fund, IIFL Asset Administration, Kuber India Fund, Elara India Alternatives Fund, Nippon Life, Dovetail India Fund, L&T MF, Saint Capital Fund, and GAM Multistock.

Shyam Metalics' Rs 909 crore IPO features a fresh discipline of Rs 657 crore and an provide on the market (OFS) of Rs 252 crore by existing promoting shareholders.

The firm will utilise get proceeds from the fresh discipline in the direction of repayment of Rs 470 crore of debt, and overall corporate capabilities.

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The discipline will shut on June 16. The price band for the provide has been fastened at Rs 303-Rs 306 per piece.

Shyam Metalics is amongst the largest producers of ferro alloys by intention of build in skill in India as of February 2021. As of March 2020, it became one in every of the main players by intention of pellet skill and the 4th largest participant in the sponge iron industry by intention of sponge iron skill in India.

It has three manufacturing vegetation with combination build in metal skill of 5.71 million tonne every year (MTPA), and captive energy vegetation with an combination build in skill of 227 MW, as of December 2020.

ICICI Securities, JM Financial, Axis Capital, IIFL Securities and SBI Capital Markets are the e-book operating lead managers to the provide.

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