InvestorQ : Can you tell me about the proposed IPO of Shyam Metallics and Energy?
Dilmini Mercia made post

Can you tell me about the proposed IPO of Shyam Metallics and Energy?

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Dawn Cherian answered.
1 week ago
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Shyam Metallics and Energy will launch its Rs.909-crore IPO in the coming week. The promoters will offload equity to the tune of Rs.252 crore while the balance amount will come by way of fresh issue. The IPO is priced in the Rs.303 to 306 per share range. The Ipo will open on June 14 and remain open to June 16.

This is the first IPO to hit the markets after Macrotech Lodha Group more than a month ago. Shyam Metallics will try to make the best of the recent rally in metal stocks. It will utilise the issue proceeds to retire its Rs.470 crore debt in order to reduce its financial risk.

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