Shyam Metalics and Energy (SMEL) is likely to announce the IPO share allotment next week on June 21, 2021. The issue received a subscription of 121.43 times, becoming the highest subscribed IPO of FY21 so far. The Rs 909-crore issue received bids for over 256.11 crore equity shares against an offer size of 2.1 crore equity shares. The initiation of refunds or unblocking of funds from ASBA accounts will take place on June 22, 2021. While the equity shares will be credited to depository accounts on June 23, 2021. Shyam Metalics and Energy will make its stock market debut on June 24, 2021. Analysts expect up to 55 per cent listing premium.
How to check Shyam Metalics share allotment status via KFin Technologies website
Investors can check the allotment status on KFin Technologies website under the IPO Status section (https://ris.kfintech.com/ipostatus/) when it gets declared. After that, select the IPO and enter either your application number or DPID/Client ID or PAN. In the case of the application number box, select application type and enter the application number. If the DPID/Client ID box is chosen, select the depository from the drop-down menu, enter DPIP, Client ID. If the PAN option box was chosen, enter the permanent account number. In the last step, enter the given captcha and click submit. This will show the number of shares that have been applied and allotted to the investor.
Check Shyam Metalics and Energy share allotment status via BSE website
The allotment status in Shyam Metalics and Energy can also be checked via the BSE website (https://www.bseindia.com/investors/appli_check.aspx). From this link, select the issue type as ‘equity’, and ‘Shyam Metalics and Energy Ltd’ as the issue type from the drop-down list, when it gets declared. Enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.
Shyam Metalics: Grey market premium, listing day strategy
In the grey market on Thursday, Shyam Metalics and Energy shares were seen trading at Rs 436 apiece, implying a premium of 42.5 per cent over the IPO price of Rs 306, according to the people who deal in shares of unlisted companies. On the back of many positives such as decent subscription, reasonable pricing and overall bullishness in the metal sector, Shyam Metalics might make a good debut, said an analyst. The stock may list with up to 55 per cent premium over IPO price at Rs 425-475,” Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO & Unlisted Shares, told Financial Express Online. He also expects that there is a scope for the stock to outperform after listing in the longer run due to its expected growth led by huge capex plans.
The GMP of Shyam Metalics and Energy has been around Rs 150 for the past few days which is a good sign as it suggests a positive mood of the investors, said Vishal Balabhadruni, CapitalVia Global Research. He suggested that the listing may be around Rs 450-460 apiece. “Seeing the overall trend of the market it would be prudent to not expect extraordinary listing gains; one may expect a 20-25 percent gains as listing gains, therefore those who find this a good amount may exit accordingly on listing day,” Balabhadruni told Financial Express Online.
Another analyst sees up to 40 per cent listing gains in Shyam Metalics. “Given the current craze for metal stocks, there are very high chances that Shyam Metallica will be listed with a premium of almost 35-40 per cent from the IPO price band. The allotted investors should book partial profits and wait for a decent correction to repurchase at lower prices in the coming weeks,” AR Ramachandran, Co-founder & Trainer, Tips2Trades, told Financial Express Online.
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