Vibhor Steel Tubes IPO: The stock opened at Rs 425 on the National Stock Exchange (NSE) and Rs 421 on the Bombay Stock Exchange (BSE), against an issue price of Rs 151 per share.
Bumper Debut by Vibhor Steel Tubes
Vibhor Steel Tubes enjoyed an exceptional debut on the stock exchanges on February 20, listing at an astonishing 181 percent premium over its initial public offering (IPO) price of Rs 151. Both NSE and BSE opened at a price point between Rs 425-421; analysts had anticipated an 86-92% premium at best.
Prior to their IPO listing, shares of BTC were trading at a 92 percent premium in the grey market – an unofficial ecosystem where shares begin trading prior to allotment in an IPO and continue through listing day. Many investors use grey market premium (GMP) data as an indication of listing price.
This issue saw overwhelming investor enthusiasm, reaching 320 times subscription rate. High net-worth individuals (HNIs) led with their purchases, purchasing over seven times the quota set aside for them; retail investors purchased 200 times what had been set aside, while qualified institutional buyers filled 191 spots.
The Financials
It set between Rs 141-151 per share for this Rs 72.17-crore issue that began for subscription on February 13 and closed two days later on February 15. It entirely fresh issue of shares; its anchor book opened for one day only on February 12, in which Saint Capital Fund, Chhattisgarh Investments Ltd and Neomile Growth Fund-Series I contributed funds worth Rs 22 crore each.
Rituraj Singh Passes Away Due To Cardiac Arrest
At September 30th 2023, revenues had reached Rs 535.51 crore with net profit reaching 8.52 crore and EBITDA totaling 23.69 crore. PAT margin was 1.61 percent while EBITDA margin stood at 4.47 percent; debt-to-equity ratio stood at 1.83 times; RoCE percentage reached 6.97% while RoE reached 8.376%
It is a manufacturer and exporter of mild steel/carbon steel ERW black and galvanised pipes, hollow steel pipes, cold-rolled steel strips/coils as well as cold-rolled steel strips/coils manufactured according to Jindal Pipes‘ long-term agreement for six years. Vibhor operates two manufacturing facilities in Raigad, Telangana, Haryana etc.
