Shyam Metalics and Energy Ltd, a leading integrated metal producing company based in Kolkata, filed its Draft Red Herring Prospectus (DRHP) with the markets regulator Sebi on Tuesday to raise funds through its maiden Initial Public Offering (IPO).
The company’s IPO comprises a fresh issue of shares worth up to Rs909cr, according to the DRHP. The equity shares will have a face value of Rs10 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs).
ICICI Securities Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited, and JM Financial Limited are the BRLMs to the issue.
According to the objects of the issue, Shyam Metalics and Energy will utilize the proceeds towards the repayment and/or pre-payment of certain debt facilities availed by the company and one of its subsidiaries, SSPL; and other general corporate purposes.