Vibhor Steel Tubes Ltd stock makes stelar debut on NSE & BSE, lists at 181% premium over IPO price

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 at Rs. 421/- on BSE, at an 181% and 179% premium over the fixed price band of Rs. 151/-. Earlier, the issue received a fabulous response from the investors as it recorded 299 times subscriptions till 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.

The company successfully completed its Anchor Book subscription last week, 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.

As many as 14,24,907 equity shares have been reserved for the anchor portion, 7,12,503 equity shares for HNIs, 9,50,025 equity shares for QIBs after the anchor, 29,502 equity shares for employees, and the Retail (RII) portion accounts for 16,62,507 equity shares.

The price band for the issue has been fixed at 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.

Source : Election Commission of India

Keywords

VibhorSteelTubes NSE BSE IPO FundRaising Listing