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Shyam Metalics And Energy is currently trading at Rs. 676.00, up by 9.30 points or 1.39% from its previous closing of Rs. 666.70 on the BSE.

The scrip opened at Rs. 677.80 and has touched a high and low of Rs. 683.40 and Rs. 669.10 respectively. So far 43964 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 683.40 on 11-Jan-2024 and a 52 week low of Rs. 253.05 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 683.40 and Rs. 622.00 respectively. The current market cap of the company is Rs. 18609.72 crore.

The promoters holding in the company stood at 81.62%, while Institutions and Non-Institutions held 6.17% and 12.20% respectively.

Shyam Metalics and Energy (SMEL) has raised Rs 1,385 through Qualified Institutional Placement (QIP). The QIP Committee at its meeting approved the issue allotment of 24,051,165 equity shares of face value of Rs 10 each to 38 Qualified Institutional Buyers (QIBs) at an issue price of Rs 576 per equity share (including a premium of Rs 566 per share).

The funds raised will bring down the working capital limits availed by the company from banks and it remains a net positive company as it is poised to become a net debt-free company to accelerate its growth trajectory.  he allotment completes the company's dilution as per minimum public shareholding requirements prescribed by SEBI. The company achieved a CAGR exceeding 15 per cent in the past and anticipated sustaining the same growth trajectory. Additionally, the company do not have any plans for additional dilution over the next few years.

Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys.