Those participating in the OFS are Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon, Narantak Dealcomm and Toplight Mercantiles.
Going by the draft papers, the company intends to utilise the net proceeds from the fresh issue for repayment or prepayment of Rs 470 crore of its debt and that of its subsidiary, Shyam SEL and Power Ltd; and for other general corporate purposes.
Shyam Metalics and Energy, which filed preliminary IPO papers with capital markets regulator Sebi in February, received its go-ahead on May 11.
The Kolkata-based long steel products and ferro alloy focused company sells intermediate and final products across the steel value chain catering to institutional and end use customers through 42 distributors, brokers across 13 states and one union territory.
It operates three manufacturing plants that are located at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.
The company had tried to tap the capital markets in the past too. It had filed draft papers for IPO with Sebi in 2018 and had even received clearance from the regulator. However, the company deferred its plans to list on the bourses.
ICICI Securities, JM Financial, Axis Capital, IIFL Securities and SBI Capital Markets Ltd are the book running lead managers to the issue.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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