Updated: June 22, 2021 9:29:18 am
Shyam Metalics IPO allotment status: The initial public offering (IPO) of Shyam Metalics and Energy was met 121.43 times subscription over the 2.10 crore shares offered during the subscription period from June 14-16, 2021. The price band was fixed at Rs 303-306 per share.
Shyam Metalics IPO received bids of over 256.11 crore (2,56,11,20,545) shares against the total issue size of 2.10 crore (2,10,90,890) shares, data available with the National Stock Exchange (NSE) showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 155.71 times, while those of non institutional investors was subscribed a whopping 339.98 times and that of retail individual investors (RIIs) was subscribed 11.64 times. Separately, shares for the employees segment was subscribed 1.55 times, the data showed.
The net proceeds from the fresh issue are intended for repayment or prepayment of Rs 470 crore of its the company’s debt and that of its subsidiary, Shyam SEL and Power, and for other general corporate purposes.
Investors are now looking forward to the share allotment date of the Shyam Metalics IPO. The Kolkata-based long steel products and ferroalloy-focused company was initially supposed to finalise the allotment by Monday, June 21, 2021, as per the timeline given in the red herring prospectus. However, the registrar’s website now shows that the shares will be allotted on Tuesday, June 22, 2021. In case you have applied for the Shyam Metalics IPO, then here is how you can check the status of your allotment when it gets declared:
- The allotment status will get updated on the website of the registrar of the IPO, which in this case is Kfin Technologies (Click here: https://ris.kfintech.com/ipostatus/ipos.aspx). Applicants will need to select SHYAM METALICS AND ENERGY LIMITED in the drop-down menu and enter either their Application No. or DPID/Client ID or PAN, enter the Captcha code (which is shown in digits) and click on Submit to view their allotment status.
- Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select SHYAM METALICS AND ENERGY LIMITED from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.
The listing of shares of Shyam Metalics and Energy is likely to take place on June 24, 2021, on both the NSE and BSE. The issue size of the IPO was Rs 909 crore. Before heading into the IPO, the company raised nearly Rs 270 crore (Rs 2,69,94,59,784.00) from its 22 anchor investors.
ICICI Securities, Axis Capital, IIFL Securities, JM Financial and SBI Capital Markets were the book running lead managers to the offer.
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