Vibhor Steel Tubes IPO: GMP, Review, Subscription, and Other Details. Should You Apply?

The initial public offering (IPO) of Vibhor Steel Tubes Limited has garnered significant attention, with shares being traded at a premium in the grey market. In this article, we will discuss the grey market premium (GMP), subscription status, review, and other important details of the Vibhor Steel Tubes IPO. We will also provide insights to help you decide whether to apply for this IPO or not.

Vibhor Steel Tubes IPO GMP: Shares Available at a Premium in the Grey Market

Market observers have reported that shares of Vibhor Steel Tubes Limited are trading at a premium of ₹132 in the grey market. This indicates strong demand and investor confidence in the company’s prospects.

Vibhor Steel Tubes IPO Details: Subscription Status, Price, and Issue Size

The public issue of Vibhor Steel Tubes Limited opened on [date] and will remain open till [date]. The price band for the IPO has been fixed at ₹141 to ₹151 per equity share. The company aims to raise ₹72.17 crore through the issuance of fresh shares.

Public issue has been subscribed 10.10 times, with the retail portion being subscribed 14.94 times and the employees’ portion being subscribed 15.04 times. The NII portion of the public issue has been subscribed 12.07 times.

Vibhor Steel Tubes IPO Review: Analysts’ Recommendations

Analysts have recommended subscribing to the Vibhor Steel Tubes IPO, citing several positive factors. The company is involved in steel tube manufacturing, supply, and exports, with no issues in terms of order book and sales. It has strong partnerships, including one with Jindal Pipe. The company has two manufacturing units in Telangana and Maharashtra, with a third unit soon to be commissioned in Odisha. This expansion is expected to help the company reduce input costs by procuring steel from the local market.

Analysts have also highlighted the attractive IPO price and compared it to the valuations of its peers. The Vibhor Steel Tubes IPO is priced at less than 50 percent of its peers’ valuations, making it highly attractive. Investors are advised to apply for potential listing gains.

Vibhor Steel Tubes IPO FAQs:

  1. What is the grey market premium (GMP) for Vibhor Steel Tubes IPO? The grey market premium for Vibhor Steel Tubes IPO is ₹132.
  2. What is the price band for the Vibhor Steel Tubes IPO? The price band for the Vibhor Steel Tubes IPO is ₹141 to ₹151 per equity share.
  3. When is the allotment date for the Vibhor Steel Tubes IPO? The likely date for share allotment is 16th February 2024.
  4. Which exchanges will the Vibhor Steel Tubes IPO be listed on? The Vibhor Steel Tubes IPO is proposed for listing on both BSE and NSE.

Should You Apply for the Vibhor Steel Tubes IPO?

Considering the positive recommendations from analysts, the attractive IPO price, and the strong subscription status, it seems like a favorable opportunity for investors. However, it is essential to conduct thorough research and consult with certified experts before making any investment decisions.

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