Vibhor Steel Tubes IPO: The shares of Vibhor Steel Tubes Ltd are going to be listed on the BSE and the NSE on Tuesday, February 20. The IPO was open for public subscription between February 13 and February 15. The IPO allotment took place on February 16. Know what its current grey market premium indicates today, Monday, about its listing gains tomorrow.
The Vibhor Steel Tubes IPO received over 320 times subscription on the final day on February 15, driven by overwhelming participation from institutional investors. The IPO received bids for 1,07,36,23,617 shares against 3,354,537 shares on offer, garnering a 320.05 times subscription.
The portion for non-institutional investors got subscribed by a whopping 772.49 times, while the quota for retail individual investors (RIIs) received 201.52 times subscription. The category for qualified institutional buyers (QIBs) attracted bids 191.41 times.
Vibhor Steel Tubes IPO GMP Today
According to market observers, unlisted shares of Vibhor Steel Tubes Ltd are trading Rs 140 higher in the grey market as compared with its issue price. The Rs 140 grey market premium or GMP means the grey market is expecting a 92.72 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Vibhor Steel Tubes IPO: How To Check Allotment Status
The IPO allotment status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Vibhor Steel Tubes Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
Your share application status will appear on your screen.
You can also visit direct KFin Tech portal — https://rti.kfintech.com/ipostatus/ and check Vibhor Steel Tubes IPO allotment status.
Vibhor Steel Tubes IPO Details
The Haryana-based Vibhor Steel Tubes’s initial public offering (IPO) comprised a fresh issue of equity shares with a face value of Rs 10 each, aggregating to an issue size of up to Rs 72.17 crore through the book-building route.
The price band was fixed at Rs 141-151 per share.
Proceeds from the issue will be utilised for working capital requirements and general corporate purposes. Founded in 2003, Vibhor Steel Tubes is a manufacturer of high-quality steel tubes and pipes that are used in various heavy engineering industries in India.
Khambatta Securities is the sole book-running lead manager, and Kfin Technologies is the registrar to the IPO. The company’s shares will be listed on the National Stock Exchange (NSE) and BSE.
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