Vibhor Steel Tubes IPO's bidding process closed on February 15, 2024. The Vibhor Steel IPO allotment status is set to be finalised today.

If you applied for the IPO, here is how you can check the Vibhor Steel IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Vibhor IPO allotment status

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "Vibhor Steel Tubes" from the dropdown menu.
3. Then you can enter your PAN, application number, or Demat.
4. Enter the captcha and click Submit to retrieve the Vibhor Steel Tubes IPO allotment status

Checking IPO Allotment Status on BSE:

1. Go to the BSE website.
2. Click on the ‘Equity' section and select "Vibhor Steel Tubes" from the dropdown menu.
3. Enter your application number or PAN.
4. Click on the ‘Search' button.
5. The result will show the number of shares allotted to you.

If all the details are entered correctly and the allotment has been finalised, the Vibhor Steel IPO allotment status will be visible.

Vibhor Steel Tubes IPO Subscription Status

On the final day of bidding, the Vibhor Steel Tubes IPO garnered tremendous interest, boasting a subscription rate of 298.66 times. The overwhelming response saw bids for 107.36 crore equity shares against the 35.92 lakh shares on offer. Notably, the qualified institutional buyer (QIB) portion witnessed a subscription rate of 178.73 times, while the non-institutional investors portion was subscribed 721.33 times. The retail portion also displayed robust participation, with a subscription of 188.17 times, while the employee portion was subscribed 201.86 times.

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Vibhor Steel Tubes IPO Details

The book build issue is slated for listing 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 premium-grade steel tubes and pipes, catering to the demands of heavy engineering industries. Their comprehensive product portfolio includes ERW pipes for water transport, oil, gas, and various other non-toxic applications. Additionally, they produce hot-dipped galvanized pipes crucial for agricultural and infrastructure purposes. The company also offers a diverse range of hollow section pipes available in square and rectangular configurations, along with primer-painted pipes and crash barriers essential for railway, highway, and road infrastructure projects.

Leading up to its IPO, Vibhor Steel Tubes successfully secured approximately ₹21.52 crore from anchor investors, allocating 14.24 lakh shares at ₹151 per share. Notable anchor investors include Saint Capital Fund, Chhattisgarh Investments Ltd, and Neomile Growth Fund – Series I.

Vibhor Steel Tubes IPO GMP

The current Vibhor Steel IPO GMP stands at ₹130, a jump from the ₹120 reported on February 13. Considering the upper price band, the shares could potentially list at ₹281, indicating a substantial 86.09% premium over the IPO price. It’s essential to understand that while IPO GMPs provide insights into market sentiment, they should not be taken as the sole indication of the stock’s performance on listing.

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