Shyam Metalics gains as its arm acquires controlling stake in SVEPL

Shyam Metalics And Energy Ltd. | Steel & Iron Products | Metals & Mining | BSE: 543299 | NSE: SHYAMMETL

02 Sep 2021 Evaluate

Shyam Metalics And Energy is currently trading at Rs. 392.75, up by 1.95 points or 0.50% from its previous closing of Rs. 390.80 on the BSE.

The scrip opened at Rs. 394.70 and has touched a high and low of Rs. 400.00 and Rs. 391.55 respectively. So far 28632 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 461.15 on 20-Jul-2021 and a 52 week low of Rs. 360.95 on 30-Jun-2021.

Last one week high and low of the scrip stood at Rs. 402.00 and Rs. 381.35 respectively. The current market cap of the company is Rs. 10019.57 crore.

The promoters holding in the company stood at 88.35%, while Institutions and Non-Institutions held 4.63% and 7.02% respectively.

Shyam Metalics and Energy’s wholly owned subsidiary -- Shyam SEL and Power (SSPL), has successfully completed acquisition of controlling stake of 90% in Shree Venkateshwara Electrocast (SVEPL) through a Share Purchase Agreement executed on August 31, 2021. The investments from SSPL in SVEPL have been done through a combination of equity and inter corporate loans aggregating to Rs 22.28 crore. The entire current bank loan in SVEPL too has been repaid in this amount.

Pursuant to the acquisition, the nominees of SSPL have been appointed on the Board of SVEPL and the existing directors of SVEPL have resigned from its Board as per the terms of the Share Purchase Agreement.

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

Shyam Metalics&Ener Share Price

891.40 -12.30 (-1.36%)

11-May-2026 14:25 View Price Chart

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