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Shyam Metalics & Energy lists with 24.18% premium at Rs 380 on NSE

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Shares of Shyam Metalics & Energy got listed at Rs 380 apiece on the National Stock Exchange on Thursday, a premium of 24.18 percent to the issue price of Rs 306 per share.

Shyam Metalics & Energy lists with 24.18% premium at Rs 380 on NSE
Shares of Shyam Metalics & Energy got listed at Rs 380 apiece on the National Stock Exchange on Thursday, a premium of 24.18 percent to the issue price of Rs 306 per share.
The stock got listed with a 19.93 percent premium at Rs 367.00 on the BSE.
The initial public offering (IPO) of Shyam Metalics & Energy was subscribed 121.43 times between June 14 to June 16. The offer received bids for over 256 crore equity shares against the IPO size of over 2.1 crore equity shares.
The price band for the public issue was Rs 303-306 per share.
The Rs 909-crore public issue comprised a fresh issue of shares worth up to Rs 657 crore and an offer for sale (OFS) of Rs 252 crore by existing shareholders.
The company has been able to offer continuous and good financial and operational performance owing to increased productivity and cost reduction. Analysts had advised subscribing to the issue based on the company’s strong financial and operational performance.