J. Sagar Associates advised Shyam Metalics and Energy Limited (“SMEL”) in relation to its proposed initial public offering. SMEL has filed a draft red herring prospectus dated February 25, 2021 with the Securities and Exchange Board of India for an initial public offering of equity shares aggregating to INR 11,070 million comprising of a fresh issue of shares and an offer for sale by certain existing promoter shareholders of SMEL.
ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, JM Financial Limited and SBI Capital Markets Limited acted as the book running lead managers for the proposed initial public offering.
SMEL is a leading integrated metal producing company based in India (Source: CRISIL Report) with a focus on long steel products and ferro alloys and is amongst the largest producers of ferro alloys in terms of installed capacity in India, as of February 2021 (Source: CRISIL Report).
JSA Team comprised Lead Partner – Arka Mookerjee; Principal Associate – Pracheta Bhattacharya; Associates –Ananth Balaji and Reshmi Prabhakar.
Arka’s practice area covers primarily equity capital markets issuances which covers a wide range of products such as Initial Public Offerings, Rights Issues, Qualified Institutions Placements, Initial Public Offering of Infrastructure Trusts and foreign currency convertible bonds.