Shyam Metalics files draft papers for Rs 1,107 crore public offering

Shyam Metalics and Energy Ltd has refiled the draf t red herring prospectus with the Securities and Exchange Board of India for its 11.07-bln-rupees initial public offering of shares. The company had initially tried to tap the capital markets in August 2018 and had even got the regulator's approval for a 9.1-bln-rupee offering in early 2019. The company that specialises in production of long steel products and ferro alloys plans to utilise the net proceeds towards repayment of its debt and for its subsidiar y Shyam SEL and Power Ltd.

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