Vibhor Steel Tubes had an impressive market debut on February 20, with its stock listing at a premium of 181% to the IPO issue price. Opening at Rs 425 on the NSE and Rs 421 on the BSE, the company’s market cap soared to Rs 798.32 crore.
The IPO, held from February 13 to February 15, had a price band of Rs 141 to Rs 151 per share, with a minimum lot size of 99 shares. Retail investors could invest a minimum of Rs 14,949. The IPO offered 4,779,444 shares, with 19.88% reserved for qualified institutional buyers and 34.78% for retail investors. Khambatta Securities Limited was the book running lead manager, and Kfin Technologies Limited was the registrar.
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Vibhor Steel Tubes Listed 181 Percent Up on Market Debut 2024.
The IPO received an overwhelming response, with a subscription of 298.86 times on the final day. It raised Rs 72.17 crore, in addition to Rs 21.51 crore raised from anchor investors. The company intends to use the proceeds for working capital requirements and general corporate purposes.
Vibhor Steel Tubes Limited manufactures, exports, and supplies steel pipes and tubes to various heavy engineering industries in India. Before the share sale, the promoters held a 98.24% stake in the company.
