Vibhor Steel Tubes Shares Soar 181% on NSE Debut

Vibhor Steel Tubes made a remarkable entrance into the stock market today, with its shares listing at an impressive 181% premium on the National Stock Exchange (NSE). The stock kicked off at ₹425 per share, soaring high above its initial public offering (IPO) price of ₹151. On the Bombay Stock Exchange (BSE), the stock opened at ₹421 per share, marking a substantial increase from the IPO price.

Market experts had predicted that Vibhor Steel Tubes’ shares would list between ₹260 to ₹280 per share, making the actual debut performance even more astounding. The response to Vibhor Steel Tubes IPO during the three-day subscription window was overwhelming, with the final subscription status reaching a whopping 298.86 times. Among the various investor categories, retail investors showed significant interest with a subscription rate of 188.17 times.

The IPO, valued at ₹72.17 crore, was completely comprised of fresh issues without any offer-for-sale component. The net proceeds from the IPO will be channeled towards general corporate purposes and supporting the company’s working capital requirements. Vibhor Steel Tubes’ promoters currently hold 93.40% of the company’s pre-IPO equity share capital,

The IPO was managed by Khambatta Securities Ltd as the sole book running lead manager (BRLM) and KFin Technologies as the registrar to the issue. Vibhor Steel Tubes IPO GMP (grey market premium) stood at +140, pointing to the strong demand for the company’s shares from investors. The consistent rise in GMP in previous sessions indicated positive market sentiment.

Vibhor Steel Tubes’ positive listing at the NSE and BSE reflects a buoyant market environment and investor confidence in the company. The stock market’s response underscores the growing appetite for new companies entering the trading arena and the potential seen in the steel tubes industry