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Business News/ Markets / Ipo/  Vibhor Steel Tubes IPO sees stellar demand on day 3, issue booked over 298.86 times; check latest GMP
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Vibhor Steel Tubes IPO sees stellar demand on day 3, issue booked over 298.86 times; check latest GMP

Vibhor Steel Tubes IPO has a price band of ₹141 to ₹151 per share, with a lot size of 99 shares. Vibhor Steel Tubes IPO opened for subscription on Tuesday, February 13, and will close today (Thursday, February 15).

Vibhor Steel Tubes IPO opened for subscription on Tuesday, February 13, and will close on Thursday, February 15. (Photo: Courtesy company website)Premium
Vibhor Steel Tubes IPO opened for subscription on Tuesday, February 13, and will close on Thursday, February 15. (Photo: Courtesy company website)

Vibhor Steel Tubes IPO subscription status: Vibhor Steel Tubes IPO continued to receive stellar responses from its investors on the third day as well. Vibhor Steel Tubes IPO subscription status was 298.86 times, as per BSE data.

On the last day, retail investors portion has been subscribed 188.17 times, Non Institutional Investors (NII) portion is booked 721.34 times, and Qualified Institutional Buyers (QIB) portion is booked 178.73 times. The employee portion has been subscribed 201.48 times.

Vibhor Steel Tubes IPO received blockbuster response from non institutional investors (NIIs) and retail investors on the second day of subscription. Vibhor Steel Tubes IPO was booked 101.42 times on day 2.

Vibhor Steel Tubes IPO retail investors portion has been subscribed 90.28 times, Non Institutional Investors (NII) portion is booked 252.20 times, and Qualified Institutional Buyers (QIB) portion is booked 8.52 times. The employee portion has been subscribed 78.93 times.

Also Read: Vibhor Steel Tubes IPO day 3: GMP, review to subscription status — apply or not as bidding ends soon?

Vibhor Steel Tubes IPO subscription begun on 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.

Vibhor Steel Tubes IPO opened for subscription on Tuesday, February 13, and will close today (Thursday, February 15).

Also Read: Vibhor Steel Tubes IPO receives phenomenal response on the second day, subscribed 101.42 times; GMP drops

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

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 fully booked on day 1 of bidding led by retail, NIIs; check GMP

Vibhor Steel Tubes IPO subscription status

Vibhor Steel Tubes Limited IPO has received bids for 1,07,36,25,993 shares against 35,92,445 shares on offer, according to data from the BSE.

Vibhor Steel Tubes IPO retail investors' portion received bids for 33,50,17,089 shares against 17,80,386 shares on offer for this segment.

Vibhor Steel IPO's non-institutional investors' portion received bids for 55,03,95,252 shares against 7,63,023 on offer for this segment.

Vibhor Steel IPO's QIBs portion have received 18,18,47,952 shares against 10,17,441 shares on offer for this segment.

Vibhor Steel IPO's employee portion have received 63,65,700 bids against 31,595 shares on offer for this segment.

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

Vibhor Steel Tubes IPO GMP today

Vibhor Steel Tubes IPO GMP or grey market premium is +110. Its dropped sharply from yesterday's +120. This indicates Vibhor Steel Tubes share price were trading at a premium of 110 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 261 apiece, which is 72.85% higher than the IPO price of 151.

Based on last 8 sessions grey market activities, today IPO GMP points downward and expects to drop more. The lowest GMP is 110, while the highest GMP is 130, as per investorgain.com analysts.

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

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: 15 Feb 2024, 05:10 PM IST
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