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Shyam Metalics and Energy Ltd on Monday received regulator SEBI's nod to float initial public offering. The ₹1,107-crore IPO comprises of a fresh Issuance of equity shares aggregating up to ₹657 crore and an offer for sale by selling shareholders - promoter and promoter Group - Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon, Narantak Dealcomm and Toplight Mercantiles aggregating up to ₹450 crore. The offer includes a reservation of up to 3 lakh shares for eligible employees. The company had filed its DRHP on February 27, 2021, with the markets regulator for an IPO.
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