Sambhv Steel Tubes IPO: Latest GMP Signals 8.5% Listing Gain Ahead Of June 25 Launch
Sambhv Steel Tubes Ltd. shares are scheduled to be listed on the NSE and BSE on July 2.
Sambhv Steel Tubes Ltd. is set to launch its initial public offering (IPO) to raise over Rs 500 crore from the primary market. The mainboard IPO is scheduled to open for subscription on June 25. The company is a leading manufacturer of steel pipes and tubes.
Ahead of the launch of the Sambhv Steel Tubes IPO, here’s a look at its latest grey market premium (GMP), offer size, price band and key dates.
Sambhv Steel Tubes IPO GMP Today
According to InvestorGain, the GMP for the Sambhv Steel Tubes IPO stood at Rs 7 as of 7:54 a.m. on June 24. The latest GMP indicates listing of shares at Rs 89 apiece, at a premium of 8.54% compared to the upper limit of the IPO price band.
Note: GMP does not represent official data and is based on speculation.
Sambhv Steel Tubes IPO: Key Details
Sambhv Steel Tubes IPO is a book-building issue worth Rs 540 crore. The public offer comprises a fresh issue of 5.37 crore shares, amounting to Rs 440 crore, and an offer-for-sale (OFS) of 1.22 crore shares worth Rs 100 crore.
The price band for the IPO has been fixed between Rs 77 and Rs 82 per share.
Retail investors can participate in the IPO by bidding for a single lot size of 182 shares, requiring an investment of Rs 14,924. Small Non-Institutional Investors need to bid for 14 lots comprising 2,548 shares. It will lead to an investment of Rs 2,08,936. Big Non-Institutional Investors need to bid for a minimum of 68 lots, requiring an investment of Rs 10,14,832.
A maximum of 50% of the net offer will be allocated to Qualified Institutional Buyers (QIBs). At least 35% of the net offer has been reserved for retail investors. The remaining 15% of the net offer has been reserved for Non-Institutional Investors.
Nuvama Wealth Management Ltd., Motilal Oswal Investment Advisors Ltd. are the book-running lead managers of the Sambhv Steel Tubes IPO. Kfin Technologies Ltd. is the registrar for the issue.
Investors can bid for shares in the IPO from June 25 to June 27. The allotment of shares is proposed to be finalised on June 30. Successful bidders will receive shares in their Demat accounts on July 1. Refunds for non-allottees will also be processed on the same day.
Sambhv Steel Tubes Ltd. shares are scheduled to be listed on the NSE and BSE on July 2.
Catch all the latest IPO Live Updates as three mainboard public issues open for subscription on June 24.
Sambhv Steel Tubes: Business And Financials
The company is a manufacturer of electric resistance welded steel pipes and structural tubes. Its portfolio includes sponge iron, GI pipes and steel door frames.
Use Of Proceeds
The company will use proceeds from the IPO to clear debt and for general corporate purposes.
Financials
The company reported a 36.5% year-on-year (YoY) rise in its profit after tax (PAT) to Rs 82.44 crore in FY24 from Rs 60.38 crore in FY23. Revenue from operations rose 37.2% YoY to Rs 1,285.76 crore in FY24 from Rs 937.22 crore in FY23.
For the nine months ended Dec. 31, 2024, its PAT stood at Rs 40.69 crore and revenue from operations at Rs 1,016.09 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
