Sambhv Steel Tubes Lists At 34% Premium Over IPO Price

Sambhv Steel Tubes Ltd. made a debut on the D-Street with a premium of 34% over the IPO price of Rs 82 on Wednesday. The stock opened at Rs 110 on the NSE and Rs on the BSE.

The initial public offering of the steel pipes manufacturer was open for subscription from June 25 to June 27. The total issue size of the IPO was Rs 540 crore, including a fresh issue of Rs 440 crore and an offer for sale by promoters, worth Rs 100 crore.

The mainboard IPO closed with an overall subscription of 28.46 times on the last day of bidding on Friday. The IPO received bids for over 140 crore shares against 4.92 crore shares on offer, as per the NSE data.   

Non-Institutional Investors (NIIs) led the bidding by booking their category 31.82 times. The Qualified Institutional Buyers (QIBs) subscribed their category 62.32 times. The retail portion of the IPO was booked 7.99 times. Employees subscribed their reserved portion by 5.35 times.

Sambhv Steel Tubes is a manufacturer of electric resistance welded steel pipes and structural tubes (hollow section) in India. The company's manufacturing facility is located in Sarora, Chhattisgarh, whose installed capacity was recently expanded to enable a higher volume of production, thereby enhancing operational efficiency.