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.
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.