NEW DELHI : Integrated metal producing firm Shyam Metalics and Energy Ltd has received capital markets regulator Sebi’s approval to raise ₹1,107 crore through an initial public offering.
The IPO comprises fresh issuance of equity shares worth up to ₹657 crore and an offer for sale to the tune of ₹450 crore by existing shareholders, according to the draft red herring prospectus.
Those participating in the OFS are Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon, Narantak Dealcomm and Toplight Mercantiles.
Shyam Metalics and Energy, which filed preliminary IPO papers with the capital markets regulator in February, obtained its observation on May 11, an update with the Securities and Exchange Board of India (Sebi) showed on Monday.
