Vibhor steel tube share prices mark a blockbuster debut on bourses as it gets listed as higher by 181.5 percent than the issue price.
Today the share prices of Vibhor Steel Tubes made a stellar debut on bourse. On NSE the share prices of the company opened at Rs. 425 per share where the issue price was of Rs. 151 just which was 181.5 percent higher. On BSE, the share prices today of Vibhor Steel Tubes opened at Rs.421 apiece which was up by 178.81 percent from their issue prices.
Experts had anticipated that the share price of Vibhor Steel Tubes would be in the range of Rs. 26o to Rs. 280 per share. The three days of the company’s IPO saw an incredible response from investors where on the last day the Vibhor Steel Tubes IPO subscription status was 298.86 times as the BSE data reported. The retail investor’s portion was subscribed for 188.17 times whereas the Non Institutional Investors or NII portion was booked for 721.34 times. The Qualified Institutional Buyers or QIB portion was booked 178.73 times and the employee portion was subscribed for 201.48 times.
The IPO subscription for Vibhor Steel Tubes opened on Tuesday which was the 13th of February and closed on Thursday which was February the 15th. The IPO price band of Vibhor Steel Tubes Limited was set in the range of Rs. 141 to Rs. 151 apiece. The company’s IPO lot size consisted of 99 shares where investors could bid for a minimum of 99 shares and in its multiples thereof.
IPO details of Vibhor Steel Tubes Ltd.
The IPO of Vibhor Steel Tubes Limited is worth Rs.72.17 cr. it compromises a fresh issue completely without an offer-for-sale component. The net proceedings of the offerings are intended for use for general corporate purposes as well as funding the company’s working capital needs. The promoters of the company are M/s Vijay Kaushik HUF, Vijay Laxmi Kaushik, Vijay Kaushik, and Vibhor Kaushik. These promoters at the moment own a total of 1,32,46,500 of equity shares which represents 93.40 percent of the pre-issue issued company’s share, subscribed, and the paid-up equity share capital. The sole book-running of Vibhor Steel Tubes Ltd. IPO lead manager is Khambatta Securities Ltd. and KFin Technologies is the registrar to the issue.
IPO GMP of Vibhor Steel Tubes today
The grey market premium of Vibhor Steel Tubes IPO is 140 plus and is similar to the three previous sessions, rising sharply from the 120 plus from Friday. It indicates the share price of Vibhor Steel Tubes is trading at a premium of 140 plus in the grey market as reported by investorgain.com. The expected list price of the IPO was Rs. 291 a piece which is 92.72 percent higher than the IPO price of Rs. 151 according to the upper end of the band.
