Initial Public Offering of Shyam Steel consists of a Fresh Issue of Up to Rs200cr and an Offer for Sale of up to 66.70 lakh equity shares, comprising up to 1.16cr equity shares by the promoter selling shareholders and up to 55.09 lakh equity shares other selling shareholders.
Axis Capital Limited, Edelweiss Financial Services Limited, SBI Capital Markets Limited and IIFL Holdings Limited are the Book Running Lead Managers to the issue and Link Intime is the registrar to the issue.
The Company proposes to utilize the net proceeds from the IPO towards funding the following objects: (1) Repayment/prepayment of certain borrowings of the Company and its Subsidiary, SSML; and (2) General corporate purposes.
Shyam Steel Industries Limited is one of the leading premium branded Thermo mechanically treated rebar (“TMT Rebar”) players in India having integrated steel plants and strong brand identity and recall amongst end customers (source: CRISIL Report). Shyam Steel is primarily involved in the production of TMT Rebar with backward integration in sponge and billet and sale of premium TMT bars (long steel products) in India (source: CRISIL Report). Company has derived 75.97%, 71.82%, 72.17% and 79.25% of Its revenue from the sale of products for TMT Rebar and allied products in the nine-months’ period ended December 31, 2018, Fiscal 2018, Fiscal 2017 and Fiscal 2016. As on March 31, 2019.