Vibhor Steel Tubes Makes Blockbuster Debut on Stock Exchanges, Shares Surge 181.5%

In a spectacular display of investor enthusiasm, Vibhor Steel Tubes made a stellar debut on the stock exchanges, with its share price listing at a whopping 181.5% premium on the National Stock Exchange (NSE). The much-anticipated listing saw Vibhor Steel Tubes’ share price opening at ₹425 per share, significantly higher than the issue price of ₹151. On the Bombay Stock Exchange (BSE), the stock debuted at ₹421 per share, marking an impressive surge of 178.81% from the issue price.

Extraordinary Response from Investors

The success of Vibhor Steel Tubes’ initial public offering (IPO) was evident from the overwhelming response it received from investors during its three-day subscription period. The IPO garnered tremendous interest, with the subscription status reaching a staggering 298.86 times, as per data from the Bombay Stock Exchange (BSE). Notably, retail investors showed keen interest, subscribing to the offering 188.17 times, while Non-Institutional Investors (NII) portion was oversubscribed by a remarkable 721.34 times. Qualified Institutional Buyers (QIB) portion also witnessed robust demand, with a subscription rate of 178.73 times. Even the employee portion was oversubscribed by 201.48 times, reflecting the widespread anticipation surrounding the IPO.

Details of Vibhor Steel Tubes IPO

Vibhor Steel Tubes Limited IPO, valued at ₹72.17 crore, comprised solely of a fresh issue, with no offer-for-sale component. The net proceeds from the IPO are intended for general corporate purposes and to support the company’s working capital requirements. The promoters of Vibhor Steel Tubes, including M/s Vijay Kaushik HUF, Vibhor Kaushik, Vijay Laxmi Kaushik, and Vijay Kaushik, currently hold a total of 1,32,46,500 equity shares, representing 93.40% of the company’s pre-issue issued, subscribed, and paid-up equity share capital. The IPO was managed by Khambatta Securities Ltd as the sole book running lead manager (BRLM), with KFin Technologies serving as the registrar to the issue.

Grey Market Premium and Expected Listing Price

The grey market premium (GMP) for Vibhor Steel Tubes IPO stood at +140, indicating strong investor interest and anticipation for a robust listing. Analysts suggest that considering the upper end of the IPO price band and the current premium in the grey market, the expected listing price for Vibhor Steel Tubes shares was ₹291 apiece, a significant increase of 92.72% from the IPO price of ₹151. With the GMP trending upwards and strong demand evident in the grey market, expectations are high for a favorable listing for Vibhor Steel Tubes on the stock exchanges.

In conclusion, Vibhor Steel Tubes’ blockbuster debut on the stock exchanges underscores investor confidence in the company’s growth prospects and the buoyant sentiment in the market. As the company embarks on this new chapter, all eyes will be on its performance in the days ahead.