 "Shyam Metalics' IPO fully subscribed 3.65 times, Sona BLW 27% on Day 2")
The initial public offer (IPO) of Shyam Metalics and Energy was subscribed 3.65, while that of Sona BLW Precision Forgings garnered 27 per cent subscription.Both issues close on Wednesday.
The Rs 909-crore IPO of Shyam Metallics has been priced between Rs 303 to 306 per share. The IPO comprises Rs 657 crore of fresh fund raise and Rs 252 crore of secondary share sale.
At the top-end, Shyam Metallics will have a market cap of Rs 7,805 crore. Meanwhile, automotive supplier Sona BLW has priced its IPO between Rs. 285 – Rs. 291 per share. The issue comprises a fresh issue of Rs.300 crore and an offer for sale worth Rs. 5,250 crore. At the top-end, Sona BLW will be valued at Rs 17,000 crore.
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