JSA counsels Shyam Metalics and Energy on its INR13.85 billion (USD166.63 million) qualified institutional placement (QIP).
The QIP involves the issuance of 24,051,165 equity shares to qualified institutional buyers, raising INR13.85 billion.
“Shyam Metalics has been our longstanding client. We counselled on their IPO as well in 2021. We have an excellent working relationship with the team lead by Deepak Agarwal and Ajay Gupta,” said Arka Mookerjee, one of the lead partners on the transaction team.
Partners Mookerjee and Pracheta Bhattacharya led the team, with the assistance of principal associate Anshu Bansal, senior associates Sourav Modi and Shambhavi Kumar, and associate Reshmi Prabhakar.
ICICI Securities acted as placement agents for the QIP. Shyam Metalics and Energy officially submitted the placement documents on 5 January 2024.
Shyam Metalics and Energy is a prominent player in the integrated steel and ferro alloys sector, particularly in long steel products. It holds a significant position in the eastern region of India. Additionally, the company is among the largest producers of ferro alloys, aluminium foils and pellets in the Indian market.