Mumbai, June 11, 2021: Kolkata based Shyam Metalics and Energy Ltd, one of the leading integrated metal producing company , CRISIL Rating AA-
(Stable)/A1+ from India. The
Company has raised Rs. 269.94 crores from 21 anchor
investors a day prior to its Issue Opening. The company informed the bourses
that it has allocated 88,21,764 equity shares at Rs. 306 per share on June 11,2021
to the anchor investors.
12 Domestic Investors
including 4 Mutual Funds (MF), 2 Insurance companies and 6 Alternate Investment
Funds (AIFs) were allocated a total of 60,45,795 shares for approximately Rs. 185
Crs. These included Nippon MF, Birla MF who were each allocated 9.63% , White
Oak 9.26% , Kotak MF and L&T MF were
allocated 7.41% each, IIFL and Abakkus were allocated 6.67% and 5.55%
respectively. Further Birla Life and Edelweiss Crossover were allocated 3.70%.
Nippon AIF, Saint Capital and SBI General were allocated 1.85% each.
9 Foreign Portfolio Investors who
participated in the anchor of which Kotak Offshore and GAM UK were allocated 8.15% and 7.78% respectively. Plutus
and Miras Investment were allocated 3.33% and 2.94% respectively. Further, IIFL
Offshore, Millenium, India Oppurtunities Growth Fund, Aurgin and Dovetail were
each allocated 1.85%. In aggregate Investors were allocated 27,75,969 equity shares
for approximately Rs 84.94 Crs.
ICICI Securities Limited, JM Financial Limited, Axis
Capital Limited, IIFL Securities Limited and SBI Capital Markets Limited are
the BRLMS to the Offer.
IPO details
The total issue size is upto Rs. 909 crore with a
fresh issuance of Equity Shares, aggregating up to Rs. 657 Cr and an offer for
sale of Equity Shares aggregating up to Rs. 252 cr, by the Selling
Shareholders. The Company proposes to utilise the Net Proceeds from the Fresh
Issue towards repayment or prepayment of up to Rs 470 crs of its debt and that
of its subsidiary, Shyam SEL and Power Limited and for other general corporate
purposes. The
issue will open for subscription on Monday, June 14, 2021 and close on Wednesday,
June 16, 2021.
The Offer is
being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations,
through the Book Building Process wherein not less than 15% of the Offer shall
be available for allocation on a proportionate basis to Non-Institutional
Bidders and not less than 35% of the Offer shall be available for allocation to
Retail Individual Bidders in accordance with the SEBI ICDR Regulations. QIB
will be allotted not more than 50% of the offer and the portion of the Offer
being up to 300,000 Equity Shares, which shall not exceed 5% of the post Offer
Equity Share capital of our Company, is available for allocation to Eligible
Employees, on a proportionate basis.
Informative.
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