Shyam Metalics IPO: Growth outlook outweighs valuation concern, say experts

The nearly two decade old company has opened its three-day public offer (between June 14 and 16) at a price band of Rs 303-306 per share

Shyam Metalics and Energy Ltd (SMEL), an integrated metal producing company with focus on long steel products and ferro alloys, has opened its Rs 909 crore initial public offer (IPO) at a time when the domestic steel firms are eyeing price hikes and investments worth Rs 76,500 crore.

“Domestic steel prices are still at around a 20-25 per cent discount to the international price and are around 15-20 per cent lower than the landed cost of imported steel. Due to this, domestic steel players continue to remain optimistic about the increase in steel prices in future as well,” Brickwork Ratings