Vibhor Steel Tubes IPO Buzz Grows: Strong Financials and Robust Demand Reflected in ₹120 Grey Market Premium

In a highly anticipated move, Vibhor Steel Tubes Limited has announced its Initial Public Offering (IPO) with a price range of ₹141-151 per share. The IPO, open for bidding from February 13 to February 15, 2024, has garnered significant attention with an issue size of ₹72.17 Crores.

Key Details:

- Minimum Investment: ₹13,959 for 99 shares

- Lot Size: 99 shares

- Bidding Dates: February 13 to February 15, 2024

- Application Categories: Regular, Employee, High Networth Individual

- Managing Director: Mr. Vijay Kaushik

- Founded in: 2003

Subscription Rates (As of February 13, 5:00 PM):

- Qualified Institutional Buyers: 3.56x

- Non-Institutional Investor: 48.28x

- Retail Individual Investor: 32.39x

- Employees: 27.38x

- Total: 27.56x

Financial Performance:

- 2021: ₹0.69 Crores Profit

- 2022: ₹11.33 Crores Profit

- 2023: ₹21.07 Crores Profit

Grey Market Premium (As of February 13, 2024):

- ₹120

Investors are keenly eyeing Vibhor Steel Tubes' IPO, considering the company's robust manufacturing of steel pipes and tubes, catering primarily to India's heavy engineering sector. The impressive financial growth, led by a visionary Managing Director, Mr. Vijay Kaushik, adds to the allure of this IPO. The subscription rates, especially from Non-Institutional Investors and Retail Individual Investors, reflect the market's confidence in Vibhor Steel Tubes Limited.