The Shyam Metalics IPO the recently released initial public offer is fully subscribed on Day 1. The retail portion has subscribed 1.84 times and it is seriously amazing to see this response from the market. The IPO was open from June 14 and will be closed on June 16. It was not expected that Shyam Metalics will be subscribed like this. Here are the complete details about today’s subscription to Shyam Metalics IPO.

Shyam Metalics IPO Day 2

On the basis of the previous day’s report, received a bid for 2.19 crore equity shares against the IPO size of over 2.1 crore equity shares.

Category Subscription Status
Qualified Institutional 0.00 Times
Non Institutional 0.70 Times
Retail Individual 2.19 Times
Employee 0.27 Times
Others [.] Times
Total 1.23 Times

According to another report, many analysts are recommending to buy this IPO while on the same side some are recommending ignoring it due to its overvalued share price. But as per our suggestion, this company may lead itself among other steel manufacturing companies that are listed in the stock market.

Currently, all the subscribers who invested in this IPO, waiting for the good news about the higher listing price. The most important part of this public offer will come when the IPO will be listed over the stock exchanges. It is a high possibility that it may be a list at a higher price than the issue price due to its popularity among all the traders and investors.

If we talking about the allotment then we want to tell you it will be allotted to the suggestive applicants on June 21, 2023. While the Shyam Metalics IPO will be list on June 24, 2023. For more information regarding the Shyam Metalic, IPO subscription status get in touch because the detail is regular updated here. Keep your eye on our website to get the live status of this IPO.