Shyam Metalics IPO: Grey market premium, other details in 10 points
2 min read 11 Jun 2021, 11:06 AM ISTShyam Metalics IPO GMP (grey market premium) today is ₹155 that means market is highly bullish on Shyam Metalics IPO listing, say experts
PremiumShyam Metalics IPO (initial public offer) Shyam Metalics IPO (initial public offer) opened for subscription on 14th June 2021 and it will remain available for bidding till 16th June 2021. The metal producer company have fixed Shyam Metalics IPO price at ₹303 to ₹306. According to stock market experts, with stock markets at record highs, Shyam Metalics public issue is likely to get a strong response. In the grey market, Shyam Metalics shares are quoting at a premium of ₹155, indicating a strong listing as well.
Here are 10 things to know about Shyam Metalics IPO:
1] Shyam Metalics IPO GMP: Speaking on Shyam Metalics IPO grey market premium Ravi Singhal, Vice Chairman at GCL Securities said that Shyam Metalics IPO GMP today is ₹155. That means market is expecting Shyam Metalics IPO listing at around ₹458 to ₹461. However, he maintained that the public issue GMP will keep on changing till its listing.
2] Speaking on Shyam Metalics IPO Avinash Gorakshkar, Head of Research at Profitmart securities said, "Timing of this IPO listing is excellent as metal stocks are rising and the next 6-8 months are expected to remain positive for the metal stocks, especially steel shares. Since, Shyam Metalics is a leading Indian integrated steel metal manufacturer; it is expected to give good listing gains to the subscribers.
Saurabh Joshi, Research Analyst at Marwadi Shares and Finance said, "Considering the TTM (Dec 20) adjusted EPS of 21.02 on a post issue basis, the company is going to list at PE of 14.6X with a market cap of ₹78,055 million whereas its peers namely Tata Steel and JSW Steel are quoting at higher PE of 16.6X and 21.6X respectively. We recommend to Subscribe this IPO as it is a leading integrated metal producer with strategically located manufacturing facilities and good financial performance and distribution network along with favorable valuation."
3] Shyam Metalics IPO price band: The promoters of the company has fixed Shyam Metalics IPO price band at ₹303 to ₹306.
4] Shyam Metalics IPO lot size: Shyam Metalics IPO lot size comprises 45 company shares. This means one can bid for minimum 45 Shyam Metalics shares. As single person can bid for maximum 14 lots, one can bid for maximum 630 shares of the metal company.
5] Shyam Metalics IPO opening date: Shyam Metalics public issue will become available for subscription from 14th June 2021 and the issue will close on 16th June 2021.
6] Shyam Metalics IPO allotment date: The allotment for Shyam Metalics public offer is likely to take place on 21st June 2021. Initiation of refund will happen on 22nd June while shares will be credited to the Demat Account of allotees on 23rd June 2021.
7] Shyam Metalics IPO listing date: The tentative date for Shyam Metalics public issue listing is 24th June 2021.
8] Shyam Metalics IPO investment limit: As a single bidder can apply for minimum one lot and maximum 14 lots of Shyam Metalics IPO and one lot of the public issue comprises 45 shares, minimum investment limit in the IPO is ₹13,770 while maximum limit for a single bidder is ₹1,92,780.
9] Shyam Metalics IPO promoter holding: Currently, Shyam Metalics promoters hold 100 shares of the company that will go down at 88.35 per cent after listing.
10] Shyam Metalics issue type: The public issue is a book build issue with a face value of ₹10 per shares.
