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07-Aug2018

Shyam Metalics files DRHP with SEBI for IPO

Shyam Metalics and Energy has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 909 crore through an initial public offer (IPO).

The funds will be utilized towards payment of debt, including that of its subsidiary SSPL and for other general corporate purposes. ICICI Securities, Edelweiss Financial Services, IIFL Holdings and JM Financial are the book running lead managers to the issue.

Shyam Metalics is one of the largest manufacturers of long steel products and ferro alloys in the country. It operates three manufacturing plants - one in Odisha and two in West Bengal, with an aggregate installed metal capacity of 2.90 metric tonnes per annum (MTPA).



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