Shyam Steel Industries has finally submitted the draft papers with the market regulator SEBI (The Security and Exchange Board of India) for its IPO (Initial Public Offering).

The initial public offer consists of a fresh issue of around INR 200 crore & an offer for sale around 66.70 lac shares. Out of them, around 11.60 lac shares will be sold by the promoter selling shareholders and remaining around 55.09 lac shared by other shareholders, as per DRHP (Draft Red Herring Prospectus). According to market sources, the size of IPO has estimated to INR 500 crore.

Axis Capital, SBI Capital markets, Edelweiss Financial Services & IIFL Holdings are lead managers to this IPO & Link Intime is a registrar. The shares are proposed to be listed on NSE & BSE.

The proceeds from this IPO will be utilized towards repayment of borrowings & other general corporate purposes.

About Shyam Steel Industries:

Shyam Steel Industries is a reputable steel manufacturing unit in India and all its plants are located in West Bengal.