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.