IPO update: Shyam Metalics

Shyam Metalics came out with its IPO about ten weeks ago. Value Research's analysis of the IPO can be found here. In this follow-up article, we focus on the IPO's performance, post-IPO events and changes in its valuation since then. Our analysis of the IPO While giving this metal-producing company a score of 16 out of 28, we focused on various strengths and weaknesses. Shyam Metalics is one of the largest producers of ferro alloys and the fourth largest name in the sponge-iron industry. The company has a very diversified product mix and two of its manufacturing plants work as 'ore to metal'- it means that it operates across the value chain of steel manufacturing. This enables the company to sustain margins and remove the effect of price volatility in commodities. Howev