Vibhor Steel Tubes IPO retail investors portion has been subscribed 90.28 times, Non Institutional Investors (NII) portion is booked 252.20 times, and Qualified Institutional Buyers (QIB) portion is booked 8.52 times. The employee portion has been subscribed 78.93 times.
Also Read: Vibhor Steel Tubes IPO receives stellar response from investors; should you subscribe?
Vibhor Steel Tubes IPO subscription begun on Tuesday, February 13, and will end on Thursday, February 15. The Vibhor Steel Tubes IPO received an enthusiastic response from retail and non-institutional investors (NIIs), and within an hour of opening, it was fully booked. Vibhor Steel IPO subscription status is 27.63 times, as per BSE data.
On day 1, Vibhor Steel Tubes IPO retail investors portion has been subscribed 32.51 times, Non Institutional Investors (NII) portion is booked 48.33 times, and Qualified Institutional Buyers (QIB) portion is booked 3.56 times. The employee portion has been subscribed 27.45 times.
Also Read: Vibhor Steel Tubes IPO fully booked on day 1 of bidding led by retail, NIIs; check GMP
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Vibhor Steel Tubes Limited IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 35% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved equity shares aggregating up to ₹44.55 lakhs.
Vibhor Steel Tubes Limited IPO price band has been set in the range of ₹141 to ₹151 apiece. Vibhor Steel Tubes IPO lot size consists of 99 shares. Investors can bid for a minimum of 99 shares and in multiples thereof.
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Vibhor Steel Tubes IPO subscription status
Vibhor Steel Tubes Limited IPO has received bids for 36,43,34,454 shares against 35,92,445 shares on offer, according to data from the BSE.
Vibhor Steel Tubes IPO retail investors’ portion received bids for 16,07,38,380 shares against 17,80,386 shares on offer for this segment.
Vibhor Steel IPO’s non-institutional investors’ portion received bids for 19,24,31,448 shares against 7,63,023 on offer for this segment.
Vibhor Steel IPO’s QIBs portion have received 86,70,915 shares against 10,17,441 shares on offer for this segment.
Vibhor Steel IPO’s employee portion have received 24,93,711 bids against 31,595 shares on offer for this segment.
Vibhor Steel Tubes IPO details
Vibhor Steel Tubes Limited IPO, which is worth ₹72.17 crore, completely comprises a fresh issue, and there is no offer-for-sale component.
The net proceeds of the offering are intended to be used for general corporate purposes and to fund the company’s working capital needs.
The company’s promoters are M/s Vijay Kaushik HUF, Vibhor Kaushik, Vijay Laxmi Kaushik, and Vijay Kaushik. The promoters currently own 1,32,46,500 equity shares in total, which represents 93.40% of the company’s pre-Issue issued, subscribed, and paid-up equity share capital.
Vibhor Steel Tubes Limited IPO’s sole book running lead manager (BRLM) is Khambatta Securities Ltd, and the registrar to the issue is KFin Technologies.
Vibhor Steel Tubes IPO GMP today
Vibhor Steel Tubes IPO GMP or grey market premium is +110. Its dropped sharply from yesterday’s +120. This indicates Vibhor Steel Tubes share price were trading at a premium of ₹110 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, Vibhor Steel Tubes IPO expected listing price was ₹261 apiece, which is 72.85% higher than the IPO price of ₹151.
Based on last 8 sessions grey market activities, today IPO GMP points downward and expects to drop more. The lowest GMP is ₹110, while the highest GMP is ₹130, as per investorgain.com analysts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 14 Feb 2024, 05:38 PM IST