Vibhor Steel Tubes share price makes a blockbuster debut, stock lists with 181.5% premium at ₹425 on NSE

Vibhor Steel Tubes share price made a stellar debut on the bourses today. On NSE, Vibhor Steel Tubes share price opened at ₹425 per share, 181.5% higher than the issue price of ₹151. On BSE, Vibhor Steel Tubes share price today opened at ₹421 apiece, up 178.81% than the issue price.

Experts anticipated Vibhor Steel Tubes share price to list in the range of ₹260 to ₹280 per share.

Also Read: Vibhor Steel Tubes IPO listing date today. Experts see ‘dream debut’ of shares on Dalal Street

The three days of the Vibhor Steel Tubes IPO saw an incredible amount of response from investors. On the last day, Vibhor Steel Tubes IPO subscription status was 298.86 times, as per BSE data. Retail investors portion was subscribed 188.17 times, Non Institutional Investors (NII) portion was booked 721.34 times, and Qualified Institutional Buyers (QIB) portion was booked 178.73 times. The employee portion was subscribed 201.48 times.

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Vibhor Steel Tubes IPO opened for subscription on Tuesday, February 13, and closed on Thursday, February 15. Vibhor Steel Tubes Limited IPO price band was set in the range of ₹141 to ₹151 apiece. Vibhor Steel Tubes IPO lot size consisted of 99 shares. Investors could bid for a minimum of 99 shares and in multiples thereof.

Also Read: 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 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 allotment status out. GMP, how to check allotment status as focus shifts on share listing date?

Vibhor Steel Tubes IPO GMP today

Vibhor Steel Tubes IPO GMP or grey market premium is +140. Its similar to previous three 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.

Based on last 14 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.

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

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.