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- IPO Of Sona Comstar And Shyam Metaliks Opens From June 14, Know What Is The Opinion Of Experts?
Mumbai41 min ago
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IPO launching has started once again in the primary market after April. On Monday, June 14, the IPO of Shyam Metaliks and Sona Comstar has opened in the market. Earlier, the IPO of realty sector company Microtech Developers was launched in April. But with the return of Corona, corporates postponed the IPO launch. However, the buying sentiment in the stock market has pushed the major indices to record levels. As a result, 4 companies will launch IPO this week.
Shyam Metaliks IPO to open from June 14, price band fixed at Rs 303-306
Shyam Metallics & Energy: The company plans to raise Rs 909 crore through IPO. For investors, the company has fixed a price band of Rs 303-306 per share. Its IPO will be open from June 14 to June 16. Investors will get 45 shares in a lot, for which a payment of Rs 13,770 will have to be made.
Retail investors can buy a maximum of 14 lots in an IPO. In the public offering, shares worth Rs 657 crore will be issued and in the offer for sale, the investors and promoters of the company will issue shares worth Rs 252 crore. The shares will be listed on the exchange on June 24. The company has fixed a price band of Rs 303-306 per share.
The company has appointed ICICI Securities, Axis Capital, IIFL Securities, JM Financial and SBI Capital as its lead managers for the IPO. As on 31 December 2020, Shyam Metaliks has a total debt of Rs 886.29 crore. The company’s total revenue during this period stood at Rs 3933.08 crore.
Broking companies give investment advice on Sona Comstar
Sona Comstar: The IPO of auto component maker Sona Comstar will also be open from June 14 to June 16. The company plans to raise Rs 5,550 crore. For this, the company will issue fresh shares worth Rs 300 crore. Also, Blackstone Group and Singapore VII Topco III will issue shares worth Rs 5,250 crore in the offer for sale. The IPO is subscribed 3% on the first day till noon.
The public offering will reserve 75% for Qualified Institutional Buyers (QIBs), 15% for non-institutional investors and 10% for retail investors. Let us tell you that Sona Costar is a leading automotive technology company in the country, which designs and produces all modern technology based automotive components.