The company plans to raise Rs 909 crore through IPO

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Shyam Metalics and Energy Limited, a leading integrated metal producing company based in Kolkata, filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI, for raising funds through its maiden Initial Public Offering (IPO).

The company’s IPO comprises fresh issue of shares worth up to Rs 909 crore, according to the DRHP. The equity shares will have a face value of Rs 10 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 Limited will utilize the proceeds towards repayment and/or pre-payment of certain debt facilities availed by the company and one of its subsidiaries, SSPL; and other general corporate purposes.