Stocks

Shyam Metalics IPO gets bids for 121 times

Our Bureau Chennai | Updated on June 16, 2021

Sona BLW issue sails through with subscription of 2.33 times

The public issues of Shyam Metalics and Energy and Sona BLW Precision Forgings (Sona Comstar) have sailed through with the former receiveing overwhelming response from all category of investors.

The IPO of Shyam Metalics and Energy has been subscribed 121.42 times. The issue of integrated metal producing company has received bids of 256.09 crore shares against the offered 2.11 crore shares, according to data available with the bourses.

The portion reserved for retail investors was subscribed 11.64 times while the qualified institutional buyer portion received bids for 155.71 times and the non-institutional investor (HNIs) by 339.98 times. Even the portion reserved for employee was subscribed 1.55 times.

The total size of the offer is ₹909 crores at the upper price band of ₹306 a share.

Ahead of the issue, the company raised ₹269.94 crore through 21 anchor investors.

The company has fixed the price band for its primary market offering at ₹ 303-306 a share. Shyam Metalics' IPO will involve a fresh issue of shares worth up to ₹ 657 crore and an offer-for-sale amounting to ₹450 crore by existing shareholders, including Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon and Narantak Dealcomm.

Sona Comstar

The IPO of Sona BLW Precision Forgings has received bids of 24.44 crore shares against the offered 10.71 crore shares, subscribing 2.33 times.

According to data available with the exchanges, the portion reserved for retail investors was subscribed 1.61 times and QIB by 3.54 times. HNIs or the non-institutional investor category portion was subscribed 0.40 times.

The total size of the offer is ₹5,250 crore at the upper price band of ₹291 a share (₹285-291).

Earlier, the company had raised ₹2,498 crore from 42 anchor investors.

The Blackstone-backed auto component maker public issue comprises fresh issue of equity shares of up to ₹300 crore and offer-for-sale (OFS) of up to ₹5,250 crore by selling shareholder Singapore VII Topco III Pte Ltd, an affiliate of the Blackstone Group Inc.

Published on June 16, 2021

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