Vibhor Steel Tubes IPO, worth Rs 72.17 crores, will open for subscription on February 13.
The IPO consists entirely of fresh shares and investors can subscribe to the IPO from February 13, 2024 until February 15, 2024.
The allotment process is expected to be completed by February 16, 2024. The company plans to list on both the BSE and NSE, with a tentative listing date set for February 20, 2024.
The IPO has a price band of Rs 141 to Rs 151 per share. The minimum lot size for the application stands at 99 shares, requiring a minimum investment of Rs 14,949 for retail investors.
Meanwhile, for sNII investors, the minimum investment stands at 14 lots (1,386 shares), amounting to rs 2,09,286, and for bNII investors, it is 67 lots (6,633 shares) totalling Rs 10,01,583.
Khambatta Securities Limited is acting as the book running lead manager for the Vibhor Steel Tubes IPO, while Kfin Technologies Limited has been appointed as the registrar for the issue.
GMP value
The latest Grey Market Premium (GMP) for Vibhor Steel Tubes IPO stands at Rs 130 as of the afternoon of February 12.
With a price band of Rs 151.00, the estimated listing price for Vibhor Steel Tubes IPO is Rs 281 (cap price + today’s GMP), indicating a potential gain of 86.09 per cent per share.
Other key details
Vibhor Steel Tubes Ltd. (VSTL) has a two-decade-long legacy of manufacturing and exporting Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hallow Steel Pipe, and Cold-rolled Steel (CR) Strips/Coils.
Its products cater to various heavy engineering industries in India and find applications in diverse sectors such as frames and shafts, bicycle frames, furniture, structural purposes, and engineering needs.
In terms of financial performance, the company has shown consistent growth. Over the last three fiscal years, on a consolidated basis, Vibhor Steel Tubes recorded total revenues and net profits as follows: Rs. 511.51 cr. / Rs. 0.69 cr. (FY21), Rs. 818.48 cr. / Rs. 11.33 cr. (FY22), and Rs. 1114.38 cr. / Rs. 21.07 cr. (FY23).
In the first half of FY24, ending on September 30, 2023, the company reported a net profit of Rs. 8.52 cr. on a total revenue of Rs. 531.24 cr.
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