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Shyam Metalics and Energy to raise ₹1,107 crore through IPO
March 01, 2021
This is the second attempt by the firm to raise funds through initial offer
Kolkata-based Shyam Metalics and Energy Ltd (SMEL), a manufacturer of long-steel and ferro-alloy products, has refiled its Draft Red Herring Prospectus (DRHP) with markets regulator to raise ₹1,107 crore through an initial public offering (IPO).
This is the second attempt by the firm to raise funds through IPO. The company had first filed DRHP in 2018 and received SEBI approval later in 2019. However, due to the pandemic and tepid market sentiments, it deferred the plans.
The IPO comprises a fresh issuance of ₹657 crore and an Offer For Sale (OFS) of up to ₹450 crore. The OFS is by promoters Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon, Narantak Dealcomm and Toplight Mercantiles.
Kolkata Steel Major, Shyam Metalics & Energy files for Rs. 1107 cr IPO
Posted On: 2021-02-28 23:54:14 (Time Zone: Arizona, USA)
Shyam Metalics and Energy Ltd, a leading integrated metal producing company and also amongst the largest producers of ferro alloys in India , in terms of installed capacity as on February 2021 (Source: CRISIL Report); has refiled its Draft Red Herring Prospectus (DRHP) with the markets regulator for a Rs. 1107 cr IPO. The company tried to tap the capital markets in 2018 and had even received its SEBI Nod in early 2019. However, due to the pandemic and tepid market sentiments the Company deferred its plans to list on the bourses.
India Expects Promoters to Sell All Their Cryptos before Raising Funds from IPO
Feb 22 2021 · 12:07 UTC | Updated
Feb 22 2021 · 12:40 by John K. Kumi · 3 min read
Photo: Depositphotos
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According to reports, the current parliamentary session in India will see a new bill passed to order the ban on the use of all private cryptocurrencies.
The Securities and Exchange Board of India (SEBI) has been said to inform promoters to sell all their cryptocurrencies before engaging in any fundraisings through their Initial Public Offerings (IPO). This information has according to the report been handed to securities lawyers, merchant bankers as well as company executives involved in the IPO processes.