The IPO is priced between Rs 303 to 306 per share and will remain open between June 14 and June 16.
Shyam Metalics and Energy (SMEL) will end the over two-month drought in the initial public offering (IPO) market.
The steelmaker will launch its Rs 909-crore offering soon.
SMEL has pruned its IPO size from Rs 1,107 crore, with the promoters deciding to offload shares worth Rs 252 crore as against Rs 452 crore planned earlier.
The company has priced its IPO between Rs 303 to 306 per share.
The IPO will remain open between June 14 and June 16. Anchor investors will be allotted shares on Friday.
The last IPO to hit the domestic market was the Rs 2,500-crore offering by real estate major Macrotech Developers.
Market players said the turbulence caused due to the second-wave of covid-19 forced many companies to hold back their listing plans.
However, a sharp rebound in the market since May has helped revive the IPO market, they said.
The benchmark Sensex has rallied more than 7 per cent since May 1.
SMEL IPO is coming on the back of a sharp rally in shares of metal companies.
The Nifty Metal index has rallied 62 per cent so far this year.
SMEL is looking to raise Rs 657 crore fresh capital from the IPO.
The company proposes to utilise the issue proceeds to retire debt of up to Rs 470 crore.
SMEL is a producer of intermediate and long steel products, such as iron pellets, sponge iron, steel billets, TMT, structural products, wire rods, and ferroalloys products.
The company currently has three manufacturing plants located at Sambalpur in Odisha and Jamuria and Mangalpur in West Bengal.
SMEL is now further diversifying our product portfolio by entering into the segments such as pig iron, ductile iron pipes and aluminium foil.
SMEL has 42 distributors across 13 states and one union territory in India as of December 31, 2020.
The company's customers include Jindal Stainless, Norecom DMCC, Posco International and World Metals & Alloys (FZC).
ICICI Securities, JM Financial, Axis Capital, IIFL Securities and SBI Capital Markets are the issue managers.