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    Shyam Steel Industries files IPO papers with Sebi

    Shyam Steel Industries files IPO papers with Sebi

    Shyam Steel Industries files IPO papers with Sebi
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    By CNBC-TV18  IST (Published)

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    Shyam Steel Industries on Tuesday has filed draft papers with capital markets regulator Sebi to float an initial public offering (IPO).

    Kolkata-headquartered Shyam Steel Industries on Tuesday has filed draft papers with capital markets regulator Sebi (Securities and Exchange Board of India) to float an initial public offering (IPO).
    The IPO 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).
    The company, which manufactures branded thermo mechanically treated rebar, proposes to utilise the net proceeds from the IPO towards repayment and pre-payment of certain borrowings and general corporate purposes. Shyam Steel Industries operates all its steel manufacturing plants in West Bengal.
    SBI Capital Markets, Axis Capital, Edelweiss Financial Services and IIFL Holdings are the book running lead managers to the issue and Link Intime is the registrar.
    The equity shares of the company are proposed to be listed on BSE and NSE.
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