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Business News/ Markets / Ipo/  Vibhor Steel Tubes IPO fully booked on day 1 of bidding led by retail, NIIs; check GMP
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Vibhor Steel Tubes IPO fully booked on day 1 of bidding led by retail, NIIs; check GMP

Vibhor Steel Tubes IPO subscription status is 27.63 times as per BSE data. Vibhor Steel Tubes IPO expected listing price was ₹271 apiece, which is 79.47% higher than the IPO price of ₹151.

Vibhor Steel Tubes IPO opens for subscription on February 13 and will close on February 15. (Photo: Company Website)Premium
Vibhor Steel Tubes IPO opens for subscription on February 13 and will close on February 15. (Photo: Company Website)

Vibhor Steel Tubes IPO subscription status: Vibhor Steel Tubes IPO subscription has begun today, Tuesday, February 13, and will end on Thursday, February 15. The Vibhor Steel Tubes IPO received an enthusiastic response from retail and non-institutional investors (NIIs), and within an hour of opening, it was fully booked. Vibhor Steel IPO subscription status is 27.63 times, as per BSE data.

On day 1, Vibhor Steel Tubes IPO retail investors portion has been subscribed 32.51 times, Non Institutional Investors (NII) portion is booked 48.33 times, and Qualified Institutional Buyers (QIB) portion is booked 3.56 times. The employee portion has been subscribed 27.45 times.

Also Read: Vibhor Steel Tubes IPO fully subscribed: GMP, subscription status, review, other details in 10 points. Apply or not?

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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 15% 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.

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.

Also Read: Vibhor Steel Tubes IPO: Check issue dates, price band, GMP, among 10 key things to know

Vibhor Steel Tubes IPO details.
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Vibhor Steel Tubes IPO details.

Vibhor Steel Tubes IPO subscription status

Vibhor Steel Tubes Limited IPO has received bids for 9,92,42,550 shares against 35,92,445 shares on offer, according to data from the BSE.

Vibhor Steel Tubes IPO retail investors' portion received bids for 5,78,78,865 shares against 17,80,386 shares on offer for this segment.

Vibhor Steel IPO's non-institutional investors' portion received bids for 3,68,74,629 shares against 7,63,023 on offer for this segment.

Vibhor Steel IPO's QIBs portion have received 36,21,717 shares against 10,17,441 shares on offer for this segment.

Vibhor Steel IPO's employee portion have received 8,67,339 bids against 31,595 shares on offer for this segment.

Also Read: Vibhor Steel Tubes raises 21 crore from anchor investors ahead of IPO

Vibhor Steel Tubes IPO details 

Vibhor Steel Tubes Limited IPO, which is worth 72.17 crore, completely comprises a fresh issue, and there is no offer-for-sale component.

The net proceeds of the offering are intended to be used for general corporate purposes and to fund the company's working capital needs.

The company's promoters are M/s Vijay Kaushik HUF, Vibhor Kaushik, Vijay Laxmi Kaushik, and Vijay Kaushik. The promoters currently own 1,32,46,500 equity shares in total, which represents 93.40% of the company's pre-Issue issued, subscribed, and paid-up equity share capital.

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.

Also Read: Vibhor Steel Tubes Limited IPO announces price band at 141-151 apiece; check issue details, key dates, more

Vibhor Steel Tubes IPO GMP today 

Vibhor Steel Tubes IPO GMP or grey market premium is +120. This indicates Vibhor Steel Tubes share price were trading at a premium of 120 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Vibhor Steel Tubes IPO expected listing price was 271 apiece, which is 79.47% higher than the IPO price of 151.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Vibhor Steel Tubes IPO: 10 key risks investors should consider before investing in Vibhor Steel IPO

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 13 Feb 2024, 01:59 PM IST
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