Vibhor Steel Tubes IPO’s bidding process today and will close on February 15, 2024. The steel pipe manufacturer has set the IPO price band at ₹141 to ₹151 per equity share.

Vibhor Steel Tubes IPO Subscription

As of 12:18 am on the first day of bidding, the Vibhor Steel IPO has garnered substantial interest, being oversubscribed by 8.67 times. The retail portion has been booked 12.95 times, while the employees’ portion has been subscribed 13.22 times. The Non-Institutional Investor (NII) portion of the Vibhor Steel IPO has been subscribed 10.07 times.

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Vibhor Steel Tubes IPO Details

The book build issue will be listed on both the BSE and NSE, with the company aiming to raise ₹72.17 crore through the issuance of fresh shares.

Established in 2003, Vibhor Steel Tubes specializes in manufacturing high-quality steel tubes and pipes utilized in heavy engineering industries. Their product range includes ERW pipes for water transport, oil, gas, and other non-toxic supplies, hot-dipped galvanized pipes for agriculture and infrastructure, hollow section pipes in square and rectangular forms, primer-painted pipes, and crash barriers for railways, highways, and roads.

Ahead of the IPO, Vibhor Steel Tubes raised approximately ₹21.52 crore from anchor investors, allocating 14.24 lakh shares at ₹151 apiece. The anchor investors include Saint Capital Fund, Chhattisgarh Investments Ltd, and Neomile Growth Fund – Series I.

Vibhor Steel Tubes IPO GMP

Vibhor Steel IPO GMP is currently reported at around ₹120. Taking the upper price band into consideration, shares of the company could list at ₹271, an around 80% premium over the IPO price. It's important to note that while IPO GMPs can offer a glimpse into market sentiment regarding an IPO, they shouldn't be the sole determinant of the stock's performance upon listing.

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