Vibhor Steel Tubes IPO Oversubscribed by 300 Times, Allotment Status Expected Today

Vibhor Steel Tubes, a company engaged in manufacturing steel pipes and tube products, is anticipating the allotment of its oversubscribed IPO today, with high demand from investors.

The IPO, which closed recently, saw subscription levels reaching almost 300 times on the final day, signaling strong investor interest.

The shares are set to be listed on February 20, post the finalization of the allotment status on February 16, as per sources.

The IPO, with a size of ₹72.2 crores, witnessed overwhelming demand across all investor categories, including QIBs, NIIs, and retail investors.

Investors who have bid for the IPO can check the allotment status on the BSE website and the registrar’s official website, Link Intime India Private Ltd.

Steps to check the allotment include visiting the BSE website, selecting Vibhor Steel Tubes from the drop-down menu, and entering either the Application Number or PAN for verification.

Additionally, investors can access the IPO status on the Link Intime India website using similar details for authentication.

Upon the finalisation of the allotment status on February 16, successful bidders will receive share allocations while refunds will be processed for unsuccessful bidders.

Vibhor Steel Tubes’ IPO exclusively comprised a fresh issue of shares, generating funds for the company’s working capital requirements and general corporate purposes.

The price band for the IPO was set at ₹141-₹151 per share, with a minimum lot size of 99 shares for bidding.

Vibhor Steel Tubes has showcased strong financial performance, with notable growth in net profit and revenue from operations over the past fiscal years.