Sona Comstar, Shyam Metalics shares to list on BSE, NSE on June 24

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After receiving a stellar response to their initial public offer (IPO), shares of Sona Comstar and Shyam Metalics will list on bourses on June 24.

The public offer of Shyam Metalics and Energy closed with a subscription of 121.40 times on Wednesday. It received bids for 2,56,05,35,955 shares against 2,10,90,890 shares on offer, as per NSE data.

The qualified Institutional Buyers(QIBs) category was subscribed 155.71 times, non-institutional investors 339.98 times, and retail individual investors (RIIs) 11.58 times.

The initial public offer of up to Rs 909 crore comprised a fresh issue of up to Rs 657 crore and an offer for sale of up to Rs 252 crore. The price range for the offer was Rs 303-306 per share.

On the other hand, auto component maker Sona BLW Precision Forgings’ IPO was subscribed 2.28 times on the last day of subscription on June 17. The IPO received bids for 24,43,02,138 shares against 10,71,05,262 shares on offer, according to an update on the NSE.

The portion meant for Qualified Institutional Buyers(QIBs) was subscribed 3.46 times, non-institutional investors 39 per cent, and retail individual investors (RIIs) 1.57 times. The public offer of up to Rs 5,550 crore comprised a fresh issue of up to Rs 300 crore and an offer for sale of up to Rs 5,250 crore. The price range for the offer, whose subscription started on Monday, was fixed at Rs 285-291 per share. Sona BLW Precision Forgings (Sona Comstar) garnered Rs 2,498 crore from anchor investors.