Vibhor Steel Tubes IPO listing: On the first day of trading, shares of Vibhor Steel Ltd surged by an impressive 193 per cent over the IPO issue price, marking it as the best listing of the year. Its IPO issue price was Rs 151 apiece.
Bumper Listing Propels Vibhor Steel Tubes into Elite Ranks
Vibhor Steel Tubes on Tuesday achieved a bumper listing, propelling it into the elite ranks of the best market debuts in the history of Indian stocks. Securing the leading position for the year, the steel major surpassed the premium of Religare Enterprises Ltd on its debut.
Vibhor Steel Tubes shares debuted with a listing price of Rs 425 on the National Stock Exchange (NSE) and Rs 421 per share on the BSE, reflecting an impressive premium of 178 per cent over its IPO price. The stock zoomed as much as 193.70 per cent to Rs 443.50 apiece in early trade.
Fourth-Best Listing in Indian Bourses – Vibhor Steel Tubes IPO
This stands as the fourth-best listing ever on Indian bourses, following Sigachi Industries (November 2021), Paras Defense and Space Technologies (October 2021), and Religare Enterprises (November 2007).
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It was expected that Vibhor Steel Tubes IPO would list in the range of Rs 260 to Rs 280 per share on the bourses.
IPO Details: Vibhor Steel Tubes Subscription Period and Lot Size
During the three days of the Vibhor Steel Tubes IPO subscription, the issue got an amazing response from investors. On the last day, the subscription status hit 298.86 times, according to BSE data. Retail investors subscribed 188.17 times, Non-Institutional Investors (NII) portion was booked 721.34 times, and Qualified Institutional Buyers (QIB) portion was bought 178.73 times. The employee portion was subscribed 201.48 times.
Vibhor Steel Tubes IPO started for subscriptions on Tuesday, February 13, and closed on Thursday, February 15. The price for Vibhor Steel Tubes IPO was in the range of Rs 141 to Rs 151 per share. The lot size for the IPO was 99 shares, and investors could bid for a minimum of 99 shares and in multiples thereof.
Details of Vibhor Steel Tubes IPO:
The Vibhor Steel Tubes Limited IPO, valued at ₹72.17 crore, comprises solely of a fresh issue, with no offer-for-sale component.
The funds raised from this offering are intended for general corporate purposes and to support the company’s working capital requirements.
The promoters of the company are M/s Vijay Kaushik HUF, Vibhor Kaushik, Vijay Laxmi Kaushik, and Vijay Kaushik. Currently, the promoters collectively hold 1,32,46,500 equity shares, representing 93.40% of the company’s pre-issue issued, subscribed, and paid-up equity share capital.
Khambatta Securities Ltd serves as the sole book running lead manager (BRLM) for the Vibhor Steel Tubes Limited IPO, with KFin Technologies acting as the registrar to the issue.
Vibhor Steel Tubes IPO GMP
The Grey Market Premium (GMP) for Vibhor Steel Tubes IPO suggested a significant increase in the listing value, though the actual surge observed on Tuesday wasn’t as high as anticipated. In the grey market, Vibhor Steel Tubes share was trading at a premium of Rs 140 apiece, according to market observers.
Grey Market Premium (GMP) is the premium at which a stock is traded in the unofficial or grey market before its official listing on the stock exchange. It reflects the demand and expectations of investors regarding the stock’s performance on the listing day.
With the upper limit of the IPO price range and the prevailing grey market premium, the anticipated listing price for Vibhor Steel Tubes IPO was projected at Rs 291 per share, reflecting a substantial increase of 92.72 percent compared to the IPO price of Rs 151.
In the last 14 sessions of grey market activity, today’s IPO Grey Market Premium (GMP) points towards an upward trend, indicating expectations of a robust listing. Analysts from investorgain.com report GMP ranging from Rs 110 to Rs 140, showcasing the market’s optimism.
