{"id":2835,"date":"2021-06-10T17:58:30","date_gmt":"2021-06-10T12:28:30","guid":{"rendered":"https:\/\/blog.tickertape.in\/?p=2835"},"modified":"2021-06-11T15:53:15","modified_gmt":"2021-06-11T10:23:15","slug":"shyam-metalics-ipo","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/","title":{"rendered":"Looking to subscribe to Shyam Metalics IPO? Read this"},"content":{"rendered":"\n<p>In its second attempt to go public, a leading steel-maker Shyam Metalics is set to open its initial share sale on 14<sup>th<\/sup> Jun 2021. Here are the details you need to know before subscribing to Shyam Metalics and Energy <a href=\"https:\/\/www.tickertape.in\/blog\/all-you-need-to-know-about-ipos\/?ref=blog\">IPO<\/a>.<\/p>\n\n\n\n<p><strong>The article covers:<\/strong><\/p>\n\n\n\n<ul><li><a href=\"#About\">About Shyam Metalics and Energy Ltd<\/a><\/li><li><a href=\"#Products\">Products of Shyam Metalics and Energy<\/a><\/li><li><a href=\"#Units\">Manufacturing units of Shyam Metalics<\/a><\/li><li><a href=\"#Clients\">Clients of Shyam Metalics and Energy<\/a><\/li><li><a href=\"#Peers\">Peers of the Shyam Metalics<\/a><\/li><li><a href=\"#IPO\">About Shyam Metalics and Energy Ltd IPO<\/a><\/li><li><a href=\"#Promoters\">Promoters diluting its stakes via OFS<\/a><\/li><li><a href=\"#Valuation\">Valuation of Shyam Metalics and Energy Ltd IPO<\/a><\/li><li><a href=\"#Lead\">Lead managers and registrar of the IPO<\/a><\/li><li><a href=\"#Utilisation\">Utilisation of Shyam Metalics IPO proceeds<\/a><\/li><li><a href=\"#Financials\">Financials of Shyam Metalics and Energy Ltd IPO<\/a><\/li><li><a href=\"#Strengths\">Strengths of Shyam Metalics and Energy Ltd IPO<\/a><\/li><li><a href=\"#Risks\">Risks of Shyam Metalics and Energy Ltd IPO<\/a><\/li><\/ul>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#About-Shyam-Metalics-and-Energy-Ltd\" title=\"About Shyam Metalics and Energy Ltd\">About Shyam Metalics and Energy Ltd<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Products-of-Shyam-Metalics-and-Energy\" title=\"Products of Shyam Metalics and Energy\">Products of Shyam Metalics and Energy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Manufacturing-units-of-Shyam-Metalics\" title=\"Manufacturing units of Shyam Metalics\">Manufacturing units of Shyam Metalics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Clients-of-Shyam-Metalics-and-Energy\" title=\"Clients of Shyam Metalics and Energy\">Clients of Shyam Metalics and Energy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Peers-of-the-Shyam-Metalics\" title=\"Peers of the Shyam Metalics\">Peers of the Shyam Metalics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#About-Shyam-Metalics-and-Energy-Ltd-IPO\" title=\"About Shyam Metalics and Energy Ltd IPO\">About Shyam Metalics and Energy Ltd IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Promoters-diluting-its-stakes-via-OFS\" title=\"Promoters diluting its stakes via OFS\">Promoters diluting its stakes via OFS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Valuation-of-Shaym-Metalics-and-Energy-Ltd-IPO\" title=\"Valuation of Shaym Metalics and Energy Ltd IPO\">Valuation of Shaym Metalics and Energy Ltd IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Lead-managers-and-registrar-of-the-IPO\" title=\"Lead managers and registrar of the IPO\">Lead managers and registrar of the IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Utilisation-of-Shyam-Metalics-IPO-proceeds\" title=\"Utilisation of Shyam Metalics IPO proceeds&nbsp;\">Utilisation of Shyam Metalics IPO proceeds&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Financials-of-Shyam-Metalics-and-Energy-Ltd-IPO\" title=\"Financials of Shyam Metalics and Energy Ltd IPO\">Financials of Shyam Metalics and Energy Ltd IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Strengths-of-Shyam-Metalics-and-Energy-Ltd-IPO\" title=\"Strengths of Shyam Metalics and Energy Ltd IPO\">Strengths of Shyam Metalics and Energy Ltd IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.tickertape.in\/blog\/shyam-metalics-ipo\/#Risks-of-Shyam-Metalics-and-Energy-Ltd-IPO\" title=\"Risks of Shyam Metalics and Energy Ltd IPO\">Risks of Shyam Metalics and Energy Ltd IPO<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"About\"><span class=\"ez-toc-section\" id=\"About-Shyam-Metalics-and-Energy-Ltd\"><\/span><strong>About Shyam Metalics and Energy Ltd<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Incorporated in 2002, Shyam Metalics and Energy Ltd is a leading integrated metal producing company based in Kolkata, India. It specifically focuses on manufacturing high <a href=\"https:\/\/www.tickertape.in\/blog\/margin-requirements\/\">margin<\/a> products such as specialised ferro alloys, customised billets for special steel applications, and long steel products. As of Dec 2020, Shyam Metalics had an aggregate installed capacity of 5.71 million tonnes per annum (MTPA). The company also has captive power plants with an aggregate installed capacity of 227 MW.<\/p>\n\n\n\n<p>The company sells intermediate and final products across the steel value chain, catering to both domestic and global markets. As of 31<sup>st<\/sup> Dec 2020, Shyam Metalics had partnerships with 42 domestic distributors, who sell its finished products to 13 states and 1 union territory. In the Indian market, the steel maker is leading on many fronts. As of Feb 2021, Shyam Metalics was one of the largest producers of ferro alloys, in terms of installed capacity. It was also were also among the leading players in terms of pellet capacity as of Mar 2020. Besides, the company stands 4<sup>th<\/sup> in terms of sponge iron capacity in the sponge iron industry.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Products\"><span class=\"ez-toc-section\" id=\"Products-of-Shyam-Metalics-and-Energy\"><\/span><strong>Products of Shyam Metalics and Energy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As mentioned, Shyam Metalics and Energy is primarily involved in producing intermediate and long steel products. These include:<\/p>\n\n\n\n<ul><li>Thermo mechanically treated (TMT)<\/li><li>Wire rods<\/li><li>Iron pellets<\/li><li>Steel billets<\/li><li>Ferro alloys<\/li><li>Sponge iron<\/li><li>Structural products<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Units\"><span class=\"ez-toc-section\" id=\"Manufacturing-units-of-Shyam-Metalics\"><\/span><strong>Manufacturing units of Shyam Metalics<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The leading steel maker has manufacturing units that are located at:<\/p>\n\n\n\n<ul><li>Sambalpur in Odisha<\/li><li>Jamuria and Mangalpur in West Bengal<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Clients\"><span class=\"ez-toc-section\" id=\"Clients-of-Shyam-Metalics-and-Energy\"><\/span><strong>Clients of Shyam Metalics and Energy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The company serves clients both in and out of India. Here\u2019s a list of its customers.<\/p>\n\n\n\n<ul><li><strong>Domestic customers:<\/strong> Jindal Stainless (Hisar) Limited, Jindal Stainless Limited, and Rimjhim Ispat Limited<\/li><li><strong>International customers: <\/strong>Norecom DMCC, POSCO International Corporation, Norecom Limited, JM Global Resources Limited, Traxys North America LLC, Goenka Steels Private Limited and Vijayshri Steel Private Limited and World Metals &amp; Alloys (FZC)<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Peers\"><span class=\"ez-toc-section\" id=\"Peers-of-the-Shyam-Metalics\"><\/span><strong>Peers of the Shyam Metalics<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The steel maker competes with listed peers such as <a href=\"https:\/\/www.tickertape.in\/stocks\/tata-steel-TISC\/?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Tata Steel Ltd<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/steel-authority-of-india-SAIL\/?checklist=basic?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Steel Authority of India Ltd<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/jindal-steel-and-power-JNSP?checklist=basic\/?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Jindal Steel and Power Ltd<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/jsw-steel-JSTL?checklist=basic\/?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">JSW Steel Ltd<\/a>, and <a href=\"https:\/\/www.tickertape.in\/stocks\/tata-steel-long-products-TTST?checklist=basic\/?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Tata Steel Long Products Ltd<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"IPO\"><span class=\"ez-toc-section\" id=\"About-Shyam-Metalics-and-Energy-Ltd-IPO\"><\/span><strong>About Shyam Metalics and Energy Ltd IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Shyam Metalics had first attempted to debut the stock markets in 2018 but stalled its plans despite receiving SEBI\u2019s nod. Fast forward to 2021, the company had initially announced an <a href=\"https:\/\/www.tickertape.in\/blog\/ipo-investment\/\">IPO<\/a> of Rs 1,107 cr but soon slashed it to Rs 909 cr owing to the dilution in the promoters\u2019 stake. Reportedly, the promoters offloaded shares just worth Rs 252 cr as against Rs 452 cr, which was planned earlier. Analysts opine that the high valuation of metal stocks could have been the reason for promoters to take the call.<\/p>\n\n\n\n<p>Here are the other details of Shyam Metalics and Energy Ltd IPO:<\/p>\n\n\n\n<ul><li>The IPO is set to open on 14<sup>th<\/sup> Jun 2021 and close on 16<sup>th<\/sup> Jun 2021<\/li><li>While the face value of a share is Rs 10, the price band of the IPO is fixed in the range of Rs 303 to 306 apiece<\/li><li>The IPO consists of a fresh issue of Rs 657 cr and an <a href=\"https:\/\/www.tickertape.in\/blog\/offer-for-sale\/\">offer for sale<\/a> (OFS) of Rs 252 cr<\/li><li>Retail investors can bid for a minimum of 1 and a maximum of 14 lots. Each lot consists of 45 shares<\/li><li>Shares are likely to be listed on BSE and <a href=\"https:\/\/www.tickertape.in\/blog\/national-stock-exchange\/\">NSE<\/a> on 24<sup>th<\/sup> Jun 2021<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Promoters\"><span class=\"ez-toc-section\" id=\"Promoters-diluting-its-stakes-via-OFS\"><\/span><strong>Promoters diluting its stakes via OFS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Currently, the promoters of the company hold an aggregate stake of 98.49% in the company. The details are:<\/p>\n\n\n\n<ul><li>Rs 97 cr held by Narantak Dealcom Ltd<\/li><li>Rs 63 cr held by Shubham Buildwell Pvt. Ltd<\/li><li>Rs 37 cr held by Shubham Capital Pvt. Ltd<\/li><li>Rs 30 cr held by Dorite Tracon<\/li><li>Rs 25 cr held by Kalpataru Housefin and Trading<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Valuation\"><span class=\"ez-toc-section\" id=\"Valuation-of-Shaym-Metalics-and-Energy-Ltd-IPO\"><\/span><strong>Valuation of Shaym Metalics and Energy Ltd IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In terms of the annualized EPS of 26.04, Shyam Metalics and Energy IPO is priced at 11.8x the company\u2019s P\/E (price to earnings) and 2.18x its P\/BV (price to book value). Note that the book value is for 9 mth-ended FY 2021 BV. After getting listed, the company is expected to command a market cap of around Rs 7,805, 1.95x P\/S (price to sales). Talking of its peers, JSW Steel trades at 2.17x P\/S, Tata Steel at 0.87x P\/S, and Tata Steel BSL, SAIL, and <a href=\"https:\/\/www.tickertape.in\/stocks\/jindal-stainless-JIST?checklist=basic\/?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Jindal Stainless<\/a> below 1x P\/S.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Lead\"><span class=\"ez-toc-section\" id=\"Lead-managers-and-registrar-of-the-IPO\"><\/span><strong>Lead managers and registrar of the IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/stocks\/icici-securities-ICCI\/?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">ICICI Securities<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/iifl-securities-IIFS?checklist=basic\/?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">IIFL Securities<\/a>, SBI Capital Markets, Axis Capital, and <a href=\"https:\/\/www.tickertape.in\/stocks\/jm-financial-JMSH?checklist=basic\/?ref=blog\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">JM Financial<\/a> are the lead managers to the issue whereas KFin Technologies Private Ltd is the registrar.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Utilisation\"><span class=\"ez-toc-section\" id=\"Utilisation-of-Shyam-Metalics-IPO-proceeds\"><\/span><strong>Utilisation of Shyam Metalics IPO proceeds<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The proceeds of the IPO will be used for:<\/p>\n\n\n\n<ul><li>Repaying or prepaying its debt<\/li><li>Repaying or prepaying the debt of its subsidiary Shyam SEL and Power Ltd (SSPL)<\/li><li>Working capital purposes and<\/li><li>General corporate purposes<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Financials\"><span class=\"ez-toc-section\" id=\"Financials-of-Shyam-Metalics-and-Energy-Ltd-IPO\"><\/span><strong>Financials of Shyam Metalics and Energy Ltd IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In the long steel space, Shyam Metalics boasts strong financial health. Some facts worth noting are:<\/p>\n\n\n\n<ul><li>As of Dec 2020, Shyam Metalics had reported a standalone debt of Rs 381.12 cr and consolidated debt of Rs 886.29 cr. Further, SSPL had a debt of Rs 398.60 cr<\/li><li>For the 9-mth ended Dec, Shyam Metalics clocked a revenue of Rs 3,933.08 cr, up from ~19% a year ago (3282 base figure)<\/li><li>For the same period, net income for the period was at Rs 456.32 cr, a ~75% increase from a year ago (260 base figure)<\/li><li>As of Dec 2020, Shyam Metalics had long-term equipment finance of Rs 182 cr and working capital of Rs 682 cr. Its <a href=\"https:\/\/www.tickertape.in\/blog\/net-worth\/\">net worth<\/a> was Rs 3,285 cr<\/li><li>From FY 2018 to FY 2020, Shyam Metalics and Energy Ltd has registered growth at a <a href=\"https:\/\/www.tickertape.in\/blog\/compound-annual-growth-rate\/\">CAGR<\/a> of 6.56% in its revenues<\/li><li>Since the commencement of operations in FY 2005, Shyam Metalics has delivered a positive <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-ebitda\/\">EBITDA<\/a> in each financial year<\/li><\/ul>\n\n\n\n<p>Here\u2019s the summary of Shyam Metalics\u2019 financials<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"382\" src=\"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2021\/06\/Shyam-IPO-1-1024x382.png\" alt=\"Shyam IPO financials\" class=\"wp-image-2842\" srcset=\"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2021\/06\/Shyam-IPO-1-1024x382.png 1024w, https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2021\/06\/Shyam-IPO-1-300x112.png 300w, https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2021\/06\/Shyam-IPO-1-768x287.png 768w, https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2021\/06\/Shyam-IPO-1.png 1281w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Strengths\"><span class=\"ez-toc-section\" id=\"Strengths-of-Shyam-Metalics-and-Energy-Ltd-IPO\"><\/span><strong>Strengths of Shyam Metalics and Energy Ltd IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Given the current upswing in the <a href=\"https:\/\/www.tickertape.in\/blog\/commodity-in-economy\/\">commodity<\/a> cycle, the timing of the IPO is conducive. Thanks to the rising metal prices, metal stocks are seen rallying in the market, which could give momentum to the company\u2019s stock. In addition, the states\u2019 efforts to unlock the economic activity in a phased manner would also lend support to the stock<\/li><li>The demand for steel is closely related to GDP growth. A gradual increase in India\u2019s GDP and earnings of citizens in the post-pandemic world would increase the demand for steel in various sectors such as consumer durables, auto, affordable housing, railways, and rural housing. This, in turn, would drive the company\u2019s business<\/li><li>After China, India is the 2<sup>nd<\/sup> largest producer of steel in the world. It accounts for nearly 6% of the global production<\/li><li>Shyam Metalics is in the process of enhancing the capacities of its existing manufacturing plants and captive power plants. This expansion is expected to increase its aggregate installed metal capacity from 5.71 MTPA to 11.60 MTPA Further, the aggregate installed capacity of captive power plants will increase from 227 MW to 357 MW. Both these expansions are expected to become operational between FY 2022 and FY 2025<\/li><li>Besides, Shyam Metalics is also in the process of commissioning an aluminium foil rolling mill at Pakuria, West Bengal. The proposed installed capacity of the mill is 0.04 MTPA and it is expected to become operational in FY 2022<\/li><li>Shyam Metalics is the least leveraged company in the steel sector and plans to retain the status. The total debt on books is 864 cr, which will be reduced to ~400 cr after the IPO<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Risks\"><span class=\"ez-toc-section\" id=\"Risks-of-Shyam-Metalics-and-Energy-Ltd-IPO\"><\/span><strong>Risks of Shyam Metalics and Energy Ltd IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>The steel sector is exposed to prices globally. Ergo, any adverse changes in the prices of the metal would directly impact the company\u2019s operating margins<\/li><li>Steel sector is highly cyclical in nature, which may reflect on the company\u2019s financials<\/li><li>The owners of Shyam Metalics and its group companies face criminal litigation for being in the same business and checkering acquisitions in the past<\/li><\/ul>\n\n\n\n<p>Now that you have the vital information on Shyam Metalics and Energy Ltd, and its IPO, you are better equipped to make a smart investment decision. However, it is best not to construe this article as an investment recommendation. Do your homework before taking a final call.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shyam Metalics, the least leveraged company in the steel sector is going public. Here&#8217;s everything you need to know before subscribing to Shyam Metalics IPO<\/p>\n","protected":false},"author":27,"featured_media":2838,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[9,1727],"tags":[208,315,314],"acf":[],"modified_by":"Aradhana Gotur","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2021\/06\/Shyam-Metallic-IPO-1.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/2835"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=2835"}],"version-history":[{"count":6,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/2835\/revisions"}],"predecessor-version":[{"id":2847,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/2835\/revisions\/2847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/2838"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=2835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=2835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=2835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}