Shyam Metalics IPO share allotment likely to be finalised today: How to check status

Shyam Metalics IPO share allotment likely to be finalised today: How to check status

Shyam Metalics and Energy is expected to finalise the IPO share allotment on June 21. The integrated metal producing company received an overwhelming response to its public issue from both qualified institutional buyers and non-institutional investors, witnessing oversubscription of 121.43 times.

The offer, which opened on June 14, comprised a fresh issue of 2,14,70,588 equity shares (Rs 657 crore) and an offer for sale of 82,35,294 equity shares (Rs 252 crore) by existing selling shareholders.

Shyam Metalics will utilise net proceeds from its fresh issue for repaying of debt of Rs 470 crore, while the offer for sale funds will go to selling shareholders.

Promoters’ shareholding will be reduced to 88.4 percent from 100 percent post the completion of IPO process.

Here’s how you can check the share allotment status:

The IPO share allocation can be checked on the BSE’s website. Select Equity and Issue Name (Shyam Metalics and Energy), and enter Application Number and PAN Number, then finally click on Search button to know the application status.

Alternatively, you can also check the allotment status on the IPO register’s website by following a few easy steps. Investors have to first select either PAN, Application Number or DP Client ID. Select company name (Nureca Limited – IPO) and accordingly enter either PAN Number, Application Number or DP Client ID, and then click on Search button to know whether shares allotted or not by the company.
After the finalisation of share allotment, the company will start the process of refunds on June 22 and credit shares to eligible investors’ demat accounts around June 23. The shares of Shyam Metalics will start trading on both BSE and NSE from June 24.

Source: https://www.moneycontrol.com/news/business/ipo/shyam-metalics-ipo-share-allotment-likely-to-be-finalised-today-how-to-check-status-7063941.html

Nysha Varshney

Naysha Varshney is an editor at Economy News. She covering finance and personal finance-related news.

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