New Delhi: The anticipated Vibhor Steel Tubes IPO, which opened for public subscription from February 13 to February 15, is set to finalize its share allotment today, Friday, February 16. The IPO witnessed a good response from investors, with subscription levels soaring nearly 300 times on the final day of bidding.
Vibhor Steel Tubes IPO: Subscription Details
The Vibhor Steel Tubes IPO garnered bids for a staggering 1,07,36,25,993 shares against the 35,92,445 shares on offer, resulting in a subscription rate of 298.86 times. (Also Read: National Stock Exchange To Conduct Special Live Trading Session On March 2: Here's All You Need To Know)
Notably, the non-institutional investor segment saw an exceptional subscription rate of 721.34 times, while retail individual investors (RIIs) subscribed 188.17 times. Qualified institutional buyers (QIBs) also showed significant interest, with bids reaching 178.73 times the allotted shares. (Also Read: Moto G04 Launched In India: Check Price, Camera, Specifications, And More)
Vibhor Steel Tubes IPO: Allotment And Listing Date
Investors will receive bank debit messages once the share allotment process is finalized today. Following this, the Vibhor Steel Tubes shares are scheduled to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on February 20.
Vibhor Steel Tubes IPO: How To Check Allotment Status?
Investors can check their IPO allotment status by visiting the official BSE website or accessing the KFin Tech portal. They must select the 'Equity' issue type, choose 'Vibhor Steel Tubes Limited' from the dropdown menu under 'Issue Name', and enter their application number or PAN to view their share application status.
Vibhor Steel Tubes IPO: Grey Market Premium (GMP)
Market observers indicate that unlisted shares of Vibhor Steel Tubes Ltd are trading at a premium of Rs 130 in the grey market compared to its issue price. This Rs 130 grey market premium reflects an expectation of an 86.09 percent listing gain from the public issue, based on current market sentiments.
IPO Details
Vibhor Steel Tubes' IPO comprises a fresh issue of equity shares with a face value of Rs 10 each, amounting to an issue size of up to Rs 72.17 crore through the book-building route.
The price band for the IPO was set at Rs 141-151 per share. The proceeds from the IPO will be utilized for working capital requirements and general corporate purposes.
