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Shyam Metalics IPO: Shyam Metalics IPO: Here's what analysts recommended

At the upper end of the price band of Rs 306, Shyam Metalics is available at of 9.1 times FY21 EV/Ebitda on an annualised basis.

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Shyam Metalics and Energy to raise ₹1,107 crore through IPO - The Hindu BusinessLine


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.

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