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Business News/ Markets / Ipo/  Vibhor Steel Tubes IPO to debut on the bourses tomorrow; here's what Vibhor Steel IPO GMP signals ahead of listing
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Vibhor Steel Tubes IPO to debut on the bourses tomorrow; here's what Vibhor Steel IPO GMP signals ahead of listing

Vibhor Steel Tubes IPO opened for subscription on Tuesday, February 13, and closed on Thursday, February 15. Vibhor Steel Tubes Limited IPO share allotment was finalised over the weekend. Vibhor Steel Tubes IPO is expected to have a strong listing, with a grey market premium of +140.

Vibhor Steel Tubes IPO listing date has been fixed for Tuesday, February 20. (Photo: Company Website)Premium
Vibhor Steel Tubes IPO listing date has been fixed for Tuesday, February 20. (Photo: Company Website)

Vibhor Steel Tubes IPO listing date has been fixed for Tuesday, February 20. Vibhor Steel Tubes IPO allotment was finalised Saturday, February 17. Vibhor Steel IPO allotment process began on Friday, February 16. On day 3, Vibhor Steel Tubes IPO subscription status was 298.86 times. The Vibhor Steel Tubes IPO garnered a overwhelming response from both retail and non-institutional investors (NII) all through the three days. Vibhor Steel Tubes IPO opened for subscription on Tuesday, February 13, and closed on Thursday, February 15.

The initiation of the refund process has commenced today (Monday, February 19) for individuals not given shares. Those allotted will receive their shares in their demat accounts on the same day itself.

Also Read: Vibhor Steel Tubes IPO: Experts decode key reasons behind robust 300 times subscription ahead of allotment

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Let's check what does Vibhor Steel Tubes IPO GMP today signal ahead of listing.

Vibhor Steel Tubes IPO GMP or grey market premium is +140. Its similar to previous two sessions, risen sharply from Friday's +120. This indicates Vibhor Steel Tubes share price were trading at a premium of 140 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 291 apiece, which is 92.72% higher than the IPO price of 151.

Also Read: Vibhor Steel Tubes IPO allotment to be out soon; GMP rises, steps to check Vibhor Steel IPO allotment status

Based on last 13 sessions grey market activities, today IPO GMP points upwards and expects a strong listing. The lowest GMP is 110, while the highest GMP is 140, as per investorgain.com analysts.

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

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.

Also Read: Vibhor Steel Tubes IPO sees stellar demand on day 3, issue booked over 298.86 times; check latest GMP

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 receives phenomenal response on the second day, subscribed 101.42 times; GMP drops

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: 19 Feb 2024, 03:48 PM IST
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