Vibhor Steel Tubes is ready to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription interval operating till February 15, 2024.
The firm plans to issue recent shares solely, aiming to record on each the BSE and NSE by February 20, 2024. The IPO’s worth vary is ready between Rs 141 and Rs 151 per share, with a minimal lot measurement of 99 shares, requiring a minimal funding of Rs 14,949 for retail buyers. For sNII buyers, the minimal funding stands at 14 heaps (1,386 shares), amounting to Rs 2,09,286, and for bNII buyers, it’s 67 heaps (6,633 shares), totaling Rs 10,01,583.
Khambatta Securities Limited is serving because the bookrunner and lead supervisor for the IPO, whereas Kfin Technologies Limited has been appointed because the registrar for the issue.
On its opening day, the Grey Market Premium (GMP) for Vibhor Steel Tubes IPO stood at Rs 120, indicating an estimated itemizing worth of Rs 271 (the cap worth + GMP), a possible acquire of 79.47 per cent per share.
Vibhor Steel Tubes Ltd is a producer and exporter of gentle metal and carbon metal ERW black and galvanised pipes, hole metal pipes, and cold-rolled metal (CR) strips Coils. With a two-decade historical past, it provides metal pipes and tubes to varied heavy engineering industries in India.
The firm has witnessed vital development in each income and income. Its income surged to Rs 1,114.38 crore in FY23 from Rs 818.48 crore in FY22. Revenue for the interval ending September 2023 stood at Rs 531.24 crore.
Net revenue for FY23 elevated to Rs 21.07 crore from Rs 11.33 crore in FY22. Profit for the interval April-September 2023 was recorded at Rs 8.52 crore.
(With PTI inputs)
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