Shyam Metalics has made a strong debut on the bourses. The integrated metal producer’s shares listed at Rs 367 on the BSE, which is a premium of 20 per cent compared to the issue price of Rs 306. On the NSE, the shares made their debut at Rs 380, a premium of 24 per cent. At 10:15 am, Shyam Metalics was trading at Rs 380.50, up 24.35 per cent on the BSE and at Rs 378.45, up 23.7 per cent on the NSE.
Shyam Metalics IPO, which was open from June 14 to June 17, consisted of a fresh issue of Rs 657 crore and an offer-for-sale of Rs 450 crore by existing shareholders, including Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon and Narantak Dealcomm.
The public issue was subscribed 121.43 times and the company raised Rs 909 crore through the share sale.
Shyam Metalics is a long steel products and ferro alloy company based in Kolkata, with manufacturing plants at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.
In a related development, Sona BLW Precision Forgings (Sona Comstar) also made its debut on the bourses.