Vibhor Steel Tubes IPO: Check issue size, GMP, reservations and more

Image Source : FREEPIK Steel pipes

Vibhor Steel Tubes is set to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription period running until February 15, 2024.

The company plans to issue fresh shares exclusively, aiming to list on both the BSE and NSE by February 20, 2024. The IPO’s price range is set between Rs 141 and Rs 151 per share, with a minimum lot size of 99 shares, requiring a minimum investment of Rs 14,949 for retail investors. For sNII investors, the minimum investment stands at 14 lots (1,386 shares), amounting to Rs 2,09,286, and for bNII investors, it is 67 lots (6,633 shares), totaling Rs 10,01,583.

Khambatta Securities Limited is serving as the bookrunner and lead manager for the IPO, while Kfin Technologies Limited has been appointed as the registrar for the issue.

On its opening day, the Grey Market Premium (GMP) for Vibhor Steel Tubes IPO stood at Rs 120, indicating an estimated listing price of Rs 271 (the cap price + GMP), a potential gain of 79.47 per cent per share.

Vibhor Steel Tubes Ltd is a manufacturer and exporter of mild steel and carbon steel ERW black and galvanised pipes, hollow steel pipes, and cold-rolled steel (CR) strips Coils. With a two-decade history, it supplies steel pipes and tubes to various heavy engineering industries in India.

The company has witnessed significant growth in both revenue and profits. Its revenue surged to Rs 1,114.38 crore in FY23 from Rs 818.48 crore in FY22. Revenue for the period ending September 2023 stood at Rs 531.24 crore.

Net profit for FY23 increased to Rs 21.07 crore from Rs 11.33 crore in FY22. Profit for the period April-September 2023 was recorded at Rs 8.52 crore.

(With PTI inputs)

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