Vibhor Steel Tubes IPO has opened for subscription today (Tuesday, February 13), and will close on Thursday, February 15. Within an hour of opening, the Vibhor Steel Tubes IPO was fully booked, with some overwhelming responsefrom retail and non-institutional investors (NIIs).
Vibhor Steel Tubes Limited IPO price band has been set in the range of ₹141 to ₹151 apiece. Vibhor Steel Tubes IPO lot size consists of 99 shares. Investors can bid for a minimum of 99 shares and in multiples thereof.
Vibhor Steel Tubes Limited IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 35% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved equity shares aggregating up to ₹44.55 lakhs.
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Vibhor Steel Tubes Limited is a manufacturer and exporter of mild steel/carbon steel ERW black and galvanised pipes, hollow steel pipe, and cold-rolled steel (CR) strips and coils, as stated in the company's Red Herring Prospectus (RHP). The firm has been producing, exporting, and supplying steel pipes and tubes to India's heavy engineering sectors for the past 20 years.
Since 2003, the company has collaborated with Jindal Pipes Limited. According to the revised agreement of April 01, 2023, they have been producing and supplying completed items for "Jindal Pipes Limited" (Jindal) under the brand name "Jindal Star."
Vibhor Steel Tubes Limited IPO, which is worth ₹72.17 crore, completely comprises a fresh issue, and there is no offer-for-sale component.
Vibhor Steel Tubes Limited IPO's sole book running lead manager (BRLM) is Khambatta Securities Ltd, and the registrar to the issue is KFin Technologies.
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