Shyam Metalics & Energy IPO
Shyam Metalics & Energy IPO — date, price band, lot size & details 2021
Shyam Metalics & Energy listed on 24 Jun 2021 at ₹380, 24.2% above the ₹306 issue price.
Shyam Metalics and Energy is an integrated metal producer focused on long steel products and ferro alloys, with plants in Odisha and West Bengal. Its total income was Rs 4,395.30 crore in FY2020.
Stock price
Shyam Metalics & Energy is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 14 Jun 2021
- Close 16 Jun 2021
- Allotment 21 Jun 2021
- Refund/credit 22 Jun 2021
- Listing 24 Jun 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 14 to 16 Jun, 2021 |
|---|---|
| Price Band | ₹303 – ₹306 |
| Face Value | ₹10 |
| Lot Size | 45 Shares |
| Issue Size | ₹908.8 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 15.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 13,770 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 45 shares at the ₹306 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 45 | ₹13,770 |
| Retail (max) | 14 | 630 | ₹1,92,780 |
| S-HNI (min) | 15 | 675 | ₹2,06,550 |
| S-HNI (max) | 72 | 3,240 | ₹9,91,440 |
| B-HNI (min) | 73 | 3,285 | ₹10,05,210 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 6
- 01Profit after tax was Rs 456.32 crore in the nine months to 31 December 2020, above the full FY2020 figure of Rs 340.33 crore.
- 02Total borrowing fell from Rs 1,330.48 crore on 31 March 2020 to Rs 886.29 crore on 31 December 2020.
- 03Net worth grew from Rs 1,853.99 crore on 31 March 2018 to Rs 3,285.28 crore on 31 December 2020.
- 04The P/E was 15.67 at the upper band of Rs 306, based on pre-issue EPS of Rs 19.53.
- 05Captive power plants of 227 MW support its 5.71 MTPA of metal capacity.
- 06Rs 470.00 crore of the proceeds was planned for repaying debt.
Risks · 6
- 01Profit after tax fell from Rs 636.78 crore in FY2019 to Rs 340.33 crore in FY2020.
- 02Total income fell from Rs 4,684.56 crore in FY2019 to Rs 4,395.30 crore in FY2020.
- 03Steel and ferro alloy prices are cyclical, so earnings can swing sharply, as the fall in FY2020 profit shows.
- 04All 3 plants are in Odisha and West Bengal, so the business is concentrated in eastern India.
- 05Rs 251.94 crore of the issue was offer for sale, so that part did not reach the company.
- 06Promoter holding fell from 100% before the issue to 88.35% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Shyam Metalics & Energy offer document.
| Metric | 31 Dec 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 5,105.15 | 5,203.79 | 4,052.43 | 3,470.63 |
| Total Income | 3,995.63 | 4,395.30 | 4,684.56 | 3,920.40 |
| Profit After Tax | 456.32 | 340.33 | 636.78 | 528.04 |
| EBITDA | 717.32 | 634.05 | 956.78 | 714.87 |
| NET Worth | 3,285.28 | 2,825.98 | 2,489.66 | 1,853.99 |
| Reserves and Surplus | 2,014.60 | 1,780.36 | 1,543.38 | 1,189.83 |
| Total Borrowing | 886.29 | 1,330.48 | 722.11 | 564.10 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Shyam Metalics & Energy RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Shyam Metalics & Energy IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹19.53 | ₹17.89 |
| P/E Ratio (x) | 15.67 | 17.10 |
| Market Cap at Offer Price (₹ Cr) | ₹7,149.71 | ₹7,805.14 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹306 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹619.72 Cr of the issue is earmarked to named objects.
About the company
Its products include iron pellets, sponge iron, steel billets, TMT bars, structural products, wire rods and ferro alloys. It was among the largest makers of ferro alloys in India by installed capacity as of February 2021, and the fourth largest in sponge iron capacity.
It runs three plants, at Sambalpur in Odisha and at Jamuria and Mangalpur in West Bengal. On 31 December 2020 their installed metal capacity was 5.71 million tonnes per annum, with captive power plants of 227 MW. It has posted positive EBITDA every year since it began operations in Fiscal 2005.
The IPO was Rs 908.80 crore, with Rs 656.85 crore of fresh issue and Rs 251.94 crore of offer for sale. Rs 470.00 crore was planned for repaying debt of the company and its subsidiary SSPL.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Shyam Metalics & Energy IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
SBI Capital Markets Ltd.
70 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Kalyan Jewellers India (-15.0%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Shyam Metalics & Energy?
The current Grey Market Premium is ₹130, or 42% over the issue price.
What is the Shyam Metalics & Energy IPO price band?
₹303 to ₹306, on a face value of ₹10.
When is the allotment?
The basis of allotment is 21 June 2021, with listing on 24 June 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
