Listed at ₹425 per share on the NSE, Vibhor Steel Tubes made an exceptional entry in the stock market, soaring 181.45% above its issue price of ₹151. Equally impressive, its BSE listing saw shares starting at ₹421, up by 178.81% from the issue price, highlighting a robust market reception and investor confidence in the company.
Vibhor Steel Tubes Limited aims to allocate IPO proceeds for corporate purposes and working capital. Promoters Vijay Kaushik HUF, Vibhor, Vijay Laxmi, and Vijay Kaushik hold 93.40% pre-Issue shares. Khambatta Securities is the BRLM, with KFin Technologies as the registrar.
On the last day, Vibhor Steel’s IPO witnessed unprecedented demand. Subscriptions soared, with Qualified Institutional Buyers at 178.73 times, Non-Institutional Investors at 721.34 times, Retail Individual Investors at 188.17 times, and employees at 201.48 times their respective allocations. Overall, the subscription rate reached a staggering 298.86 times, showcasing immense interest from various investor groups.
Vibhor Steel Tubes Ltd specializes in producing a variety of steel products, including Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hollow Steel Pipes, and Cold Rolled Steel Strips/Coils, primarily for India’s heavy engineering industries. Leveraging connections with Jindal pipe dealers and international markets, the company’s “Vibhor” brand is gaining global traction, guided by customer feedback and strategic marketing. Ensuring quality, a team of 630, overseen by the board of directors, rigorously tests materials and products, aligning with international standards.
