Vibhor Steel Tubes Initial Public Offering (IPO): The first day of trading for Vibhor Steel Tubes was very successful.
The company’s shares were listed on the National Stock Exchange (NSE) at Rs 425, showing a big increase of 181%.
Similarly, on the Bombay Stock Exchange (BSE), they were listed at Rs 421, marking a gain of 179%.
Investors who got shares in the IPO at Rs 151 saw their investment more than double on the first day.
The IPO of Vibhor Steel Tubes was open for subscription from February 13 to February 15. After being listed, the shares quickly rose in value.
They reached Rs 442 on the BSE, hitting the upper limit of a 5% increase. This means they gained 193% from the IPO price.
On the NSE, they reached Rs 443.50. The total value of the IPO was Rs 72.17 crore.
Retail investors could buy between 1 and 13 lots, with each lot containing 99 shares.
Vibhor Steel Tubes, established in 2003, makes and sells steel pipes and tubes
The IPO of Vibhor Steel Tubes was oversubscribed by a huge margin, being subscribed 320.05 times.
Retail investors showed a lot of interest, with their subscription being 201.52 times the available shares.
Non-Institutional Investors (NII) subscribed 772.49 times, while Qualified Institutional Buyers (QIB) subscribed 191.41 times.
Employees also showed significant interest, subscribing 215.79 times their quota.
