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23 May, 2024 14:30 IST
Shyam Steel Industries Limited files DRHP for IPO

Shyam Steel Industries Limited, one of the branded thermo mechanically treated rebar (''TMT Rebar'') players in India having integrated steel plants and a strong brand identity and recall amongst end customers has filed IPO papers with market regulator SEBI for Initial Public Offering.

Initial Public Offering of Shyam Steel consists of a fresh issue of Up to Rs 2 billion and an Offer for Sale of up to 6,670,000 equity shares, comprising up to 1,160,300 equity shares by the promoter selling shareholders and up to 5,509,700 equity shares other selling shareholders.

The company proposes to utilize the net proceeds from the IPO towards funding, repayment/prepayment of certain borrowings and general corporate purposes.

Axis Capital Limited, Edelweiss Financial Services Limited, SBI Capital Markets Limited and IIFL Holdings Limited are the Book Running Lead Managers to the issue and Link Intime is the registrar to the issue.

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