Shyam Metalics Shares Close With 23% Premium in Debut Trade

Shares of Shyam Metalics and Energy Ltd on Thursday made a remarkable debut on the bourses and closed with a gain of nearly 23 per cent against the issue price of Rs 306.
Earlier in the day, it listed at Rs 367, a gain of 19.93 per cent from the issue price on the BSE. Shares of the company then touched a high of Rs 399.10, reflecting a jump of 30.42 per cent during the day. It closed at Rs 375.85 apiece, up 22.82 per cent.
On the NSE, the scrip debuted at Rs 380, with a premium of 24.18 per cent. It ended the day with a gain of 22.71 per cent at Rs 375.50.
In terms of traded volume, 19.74 lakh shares were traded on the BSE and over 2.70 crore shares on the NSE during the day. Its market valuation was at Rs 9,587.21 crore on the BSE.
Last week, the initial public offer of Shyam Metalics and Energy got subscribed 121.40 times. The price range for the offer was at Rs 303-306 per share. The Kolkata-based long-steel products and ferro alloy-focussed company sells intermediate and final products across the steel value chain.