Shyam Metalics and Energy Limited IPO – June 14 to 16

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Shyam Metalics and Energy Limited IPO – June 14 to 16

0Comments June 09, 2021
Shyam Metalics and Energy Limited IPO – June 14 to 16

Shyam Metalics and Energy Limited is coming out with a fresh public issue to raise Rs 909 crores from the market.

Key details of the issue:

  • Issue opens – June 14 (Monday)
  • Issue closes – June 16 (Wednesday)
  • Issue size – Rs 909 crores
  • Price band – Rs 303 to 306 per equity share
  • Bid lot – 45 shares and in multiples thereof
  • Employee discount – Rs 15 per equity share
  • Employee reservation – Up to 3,00,000 shares

And here are some details of the company and further details on the Shyam Metalics and Energy Limited issue.

Company details:

Shyam Metalics and Energy Limited (SMEL) was incorporated on Dec 10, 2002. SMEL is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys in terms of installed capacity in India, as of Feb 2021. As of March 31, 2020, the company was one of the leading players in terms of pellet capacity and the 4th largest player in the sponge iron industry in terms of sponge iron capacity in India. Since the commencement of its operations in FY2005, the company has delivered a positive EBITDA in each Fiscal.

SMEL primarily produces intermediate and long steel products, such as iron pellets, sponge iron, steel billets, TMT, structural products, wire rods and ferro alloy products with a specific focus on high margin products, such as customised billets and specialised ferro alloys for special steel applications.

SMEL has 3 manufacturing units with an aggregate operating capacity of 5.70 MTPA with 227 MW of Captive Power Plant. Its plants are located at Sambalpur in Odisha and Jamuria and Mangalpur in West Bengal. As of Dec 31, 2020, the company had partnerships with 42 distributors, who stock and sell their finished products across 13 states and 1 union territory in India.

Issue size: Rs 909 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 450 crores
  • NIB – 15% of the offer – Rs 135 crores
  • RET – 35% of the offer – Rs 315 crores

Employee discount: Rs 15 per share

Employee reservation: Up to 3,00,000 equity shares

Listing: NSE and BSE

Registrar: KFin Technologies Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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