Vibhor Steel Tubes Limited IPO announces price band at ₹141-151 apiece; check issue details, key dates, more
- Vibhor Steel Tubes Limited IPO price band set at ₹141-151 apiece, opening on February 13 and closing on February 15.
Vibhor Steel Tubes Limited IPO price band has been set in the range of ₹141 to ₹151 apiece. Vibhor Steel Tubes IPO will open for subscription on Tuesday, February 13, and close on Thursday, February 15. Vibhor Steel Tubes IPO lot size consists of 99 shares. Investors can bid for a minimum of 99 shares and in multiples thereof. The floor price is 14.10 times the face value and the cap price is 15.10 times the face value of ₹10. The price to earning ratio at the floor price is 9.49 times and at the cap price is 15.10 times the face value.
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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.
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.
As per the company's RHP, the company's listed peers are APL Apollo Tubes Limited (with a P/E of 64.88), Hi-Tech Pipes Limited (with a P/E of 47.91), Goodluck India Limited (with a P/E of 31.01), and Rama Steel Tubes Limited (with a P/E of 37.75).
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.
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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