Shyam Metallics and Energy’s public problems have subscribed 1.70 times on June 15, the second day of the offer, amid strong interest from retail investors.
This offer has received an offer for 3.58 crore equity shares against the size of the IPO 2.1 shares of Crore equity, the subscription data available on the exchange shows.
The section set aside for retail investors watched a subscription of 3.09 times and 38 percent employees. Institutional buyer’s reserve part qualified subscribing to 2 percent and 77 percent non-institutional investors.
Shyam Metallics and Energy intend to increase the Crore RS 909 through public problems that will be closed on June 16.
The price band for offers has been repaired at Rs 303-306 per equity stock. “We appreciate stock at RS 436.4 (FY23 EV / EBITDA 6x) in the Post Equity Edition and start coverage by subscribing. Our price target represents the potential increase of 42.6 percent more than 18-24 months from the IPO price,” said Ventura Securities.
This is the biggest producer of the Alloy Ferro (in terms of installed capacity in India) and operates three manufacturing plants – two of which are in West Bengal serving the north and eastern territory of India, and one in Odisha serves southern and western areas.
The total installed total capacity is 5.71 MTPA and including 227 MW captive power plants (serving 80 percent of their power requirements).
