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

Vibhor Steel Tubes IPO: The initial public offering (IPO) of Vibhor Steel Tubes Limited has opened today and will remain open till 15th February 2024. The steel pipe maker company has fixed the Vibhor Steel Tubes IPO price band at ₹141 to ₹151 per equity share. The book build issue is proposed for listing on both BSE and NSE and the company aims to raise ₹72.17 crore through the issuance of fresh shares.

Meanwhile, ahead of the issue opening, shares of Vibhor Steel Tubes Limited are available in the grey market. According to stock market observers, Vibhor Steel Tubes share price is available at a premium of ₹132 in the grey market today.

Vibhor Steel Tubes IPO subscription status

By 2:24 PM on day one of bidding, the public issue has been subscribed 16:12 times, its retail portion has been booked 21:66 times whereas its employees' portion has been subscribed 20.11 times. The NII portion of the public issue has been subscribed 20.12 times. The QIb portion has been booked 3.32 times.

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Important Vibhor Steel Tubes IPO details

1] Vibhor Steel Tubes IPO GMP: According to market observers, shares of Vibhor Steel Tubes Ltd are available at a premium of ₹132 in the grey market today.

2] Vibhor Steel Tubes IPO price: The steel tubes maker company has fixed price band of the public issue at ₹141 to ₹151 per equity share.

3] Vibhor Steel Tubes IPO date: The book build issue has opened today and will remain open till 15th February 2024.

4] Vibhor Steel Tubes IPO size: The steelmaker company aims to raise ₹72.17 crore via the issuance of fresh shares. So, the net proceeds of the company will go into the balance sheet of the company.

5] Vibhor Steel Tubes IPO lot size: A bidder will be able to apply in lots and one lot of the book build issue comprises 99 company shares.

6] Vibhor Steel Tubes IPO allotment date: In the wake of the T+3 listing rule, the likely date for share allotment is 16th February 2024 i.e. on Friday this week.

7] Vibhor Steel Tubes IPO registrar: KFin Technologies Ltd has been appointed as the official registrar of the book build issue.

8] Vibhor Steel Tubes IPO listing: The public issue is proposed for listing on BSE and NSE.

9] Vibhor Steel Tubes IPO listing date: In the wake of the T+3 listing rule, the mainboard offer is likely to debut on Dalal Street on 20th February 2024 i.e. on Tuesday next week.

Vibhor Steel Tubes IPO: Apply or not?

10] Vibhor Steel Tubes IPO review: Giving 'subscribe' tag to the public issue, Arun Kejriwal, Founder of Kejriwal Research and Investment Services said, "As the name suggests, the company is in the business of steel tube manufacturing, supply, and exports. The company works with Jindal Pipe. So, the company has no issue at all on the order book and sales front. The company has two manufacturing units in Telangana and Maharashtra and its third unit is getting commissioned in Odisha. The third unit in Odisha is expected to start operations soon. The Odisha plant would enable the company to contain its input cost as they will be able to procure steel from the hyperlocal market."

Arun Kejriwal went on to add that Vibhor Steel Tubes IPO price is quite attractive and one can 'apply for strong listing gain'.

Giving a 'subscribe' tag to the public issue, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "The valuations of the Vibhor Steel Tubes IPO is highly attractive. Comparing its PE with its peers, the public offer is less than 50 percent of the valuations of its peers. So, the public issue is expected to receive a strong response from investors, and looking at the size of the issue, I won't be surprised if the book build issue gets fully subscribed in few hours of the issue opening on Tuesday." Gorakshkar too advised investors to apply for listing gain.

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 decisions.