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Shyam Metalics makes a strong debut in stock markets, lists 24% above issue price on NSE

Shyam Metalics shares listing: The Shyam Metalics and Energy scrip got listed at Rs 380.00 apiece on the NSE, thereby registering a gain of 24.18 per cent from its offer price of Rs 306.

By: Express Web Desk | New Delhi |
Updated: June 24, 2021 11:00:29 am
Shyam Metalics share price, Shyam Metalics stock price, Shyam Metalics IPOShyam Metalics and Energy is a Kolkata-based long steel products and ferroalloy-focused company. It sells intermediate and final products across the steel value chain catering to institutional and end-use customers. (Image: Shyam Metalics)

Shyam Metalics share price: Shares of Shyam Metalics and Energy made a strong debut on the stock exchanges today listing over 24 per cent higher than their issue price.

The scrip got listed at Rs 380.00 apiece on the National Stock Exchange (NSE), thereby registering a gain of 24.18 per cent from its offer price of Rs 306. On the BSE, it opened at Rs 367, up 19.93 per cent from the issue price.

The stock continued its initial momentum hitting a high Rs 399.10 on BSE and Rs 399.00 on the NSE during the first few minutes of trade on the first day, however, it slowly gave up some of its intial gains and touched an intraday low of Rs 371.55 on NSE so far in the day.

Over 1.60 crore shares of Shyam Metalics and Energy were traded on the NSE during the first 45 minutes of trade, while over 12.67 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.

The Rs 909 crore IPO of Shyam Metalics met a robust demand during its offer period from June 14-16. The issue was oversubscribed by a whopping 121.43 times.

Shyam Metalics and Energy is a Kolkata-based long steel products and ferroalloy-focused company. It sells intermediate and final products across the steel value chain catering to institutional and end-use customers. It operates three manufacturing plants that are located at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.

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