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Shyam Steel Industries files IPO papers, eyes to raise Rs 500 crore

Axis Capital, Edelweiss Financial Services, SBI Capital Markets and IIFL Holdings are the book running lead managers to the issue and Link Intime is the registrar

Press Trust of India  |  New Delhi 

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Industries has filed draft papers with regulator for its initial public offering.

The consists of fresh issue of up to Rs 200 crore and an offer for sale of up to 66.70 lakh shares, comprising up to 11.60 lakh shares by the promoter selling shareholders and up to 55.09 lakh shares by other selling shareholders, according to the Draft Red Herring Prospectus (DRHP).

Market sources said the size is estimated to be around Rs 500 crore.

The Kolkata-based firm proposes to utilise the net proceeds from the towards repayment/prepayment of certain borrowings of the company and its subsidiary Manufacturing and for other general corporate purposes.

Axis Capital, Edelweiss Financial Services, SBI Capital and IIFL Holdings are the book running lead managers to the issue and Link Intime is the registrar.

Industries is a thermo mechanically treated rebar (TMT Rebar) player having integrated steel plants. The company operates all its steel manufacturing plants in West Bengal.

The equity shares of the company are proposed to be listed on BSE and NSE.

First Published: Tue, June 04 2019. 12:55 IST
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