Shyam Metalics raises Rs 270 crore from anchor investors

MUMBAI: Shyam Metalics and Energy raised Rs 270 crore from anchor investors on Friday, ahead of its initial public offer (IPO) on Monday.

The company has allotted 88.21 lakh shares to 21 anchor investors at Rs. 306 per share in a pre-IPO anchor issue, , it said in an exchange filing

The company allotted 60.45 lakh shares to 12 domestic institutional investors including four mutual funds, two insurance companies and six alternate investment funds.


Nippon India Mutual Fund, Aditya Birla Sunlife Mutual Fund, White Oak, Kotak Mutual Fund, L&T Mutual Fund, IIFL and Abakkus Asset Managers, among others, were the major DIIs that participated.

The company allotted 27.75 lakh shares to nine foreign portfolio investors: Kotak Offshore, GAM UK, Plutus Investment, Miras Investment, IIFL Offshore, Millenium, India Opportunities Growth Fund, Aurgin and Dovetail.

ICICI Securities, JM Financial, Axis Capital, IIFL Securities and SBI Capital Markets are the book running lead managers to the issue.

Shyam Metalics' IPO will open for subscription on Monday with a price band of Rs. 303-306 per share. It aims to raise Rs. 909 crore through the issue including the anchor allotment size.