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Vibhor Steel Tubes Limited stock makes stellar debut; lists at 181% premium on NSE
Published on February 20, 2024
• Stock listed at Rs. 425/- on NSE and at Rs. 421/- on BSE against the issue price of Rs. 151/-
• Public Issue was subscribed 299 times
• Raised Rs 21.51 crore from Anchor investors
• Public offer opened for subscription on February 13 and closed on February 15, 2024
• IPO comprised of fresh issue of equity shares aggregating up to Rs. 72.17 crore with a face value of Rs. 10 per share; price band fixed at Rs. 151/-
Haryana-based Vibhor Steel Tubes Limited made a stellar debut on the NSE & BSE platforms today. The stock was listed at Rs. 425/- on NSE and Rs. 421/- on BSE, at an 181% and 179% premium over the issue price of Rs. 151/-. The issue had received an overwhelming response from the investors and was subscribed 299 times on the final day of bidding on February 15, garnering bids amounting to over Rs. 16,211 crore.
The IPO comprised a fresh issue of Equity Shares aggregating up to Rs. 72.17 crore with a face value of Rs. 10/- through the book-building route. Khambatta Securities Limited is the Book Running Lead Manager to the issue, and KFIN Technologies Limited is the Registrar.
Last week, the company successfully completed its Anchor Book subscription, raising Rs. 21.51 crore from the sale of 14.24 lakh equity shares at Rs. 151 each. Prominent investors, including Saint Capital Fund, Chhatisgarh Investments Limited and Neomile Growth – Series I, participated in the anchor book subscription round.
As many as 14,24,907 equity shares were reserved for the anchor investors, 7,12,503 equity shares for HNIs, 9,50,025 equity shares for QIBs after the anchor, 29,502 equity shares for employees, and 16,62,507 equity shares reserved for the Retail (RII) portion.
The price band for the issue was fixed in the range of Rs. 141– Rs. 151 per share. The lot size was 99 equity shares. The company planned to raise approximately Rs. 72.17 crore (at upper band) from the offering.
Vibhor Steel Pipes Limited intends to utilise the proceeds from the IPO for working capital requirements and general corporate purposes.
