Vibhor Steel Tubes Pvt Ltd‘ Impressive Debut: Shares Soar 181.46% on NSE, Opening at Rs 425 and Rs 421 on the BSE against the issue price of Rs 151. Exceeding IPO Price
Vibhor Steel Tubes Pvt Ltd (VSTL): A Dazzling Stock Market Debut with 181% Premium Over IPO
Vibhor Steel Tubes Pvt Ltd (VSTL) made a stunning debut on the stock market today, coming into the fray at a whopping 181 percent premium over the price of its initial public offering (IPO) on February 20. The stock surpassed the issue price of Rs 151, opening at Rs 425 on the NSE and Rs 421 on the BSE. The exceptional debut surpassed the analysts’ projected premium of 86–92 percent.
Grey Market Buzz: Vibhor Steel Tubes Creates Excitement Before Official Listing
The shares on the grey market, an unofficial venue where shares are exchanged prior to IPO allotment and continue until the listing day, generated excitement even before the official listing. Typically, investors use the grey market premium (GMP) as a proxy for the possible listing price.
Investor Frenzy: Vibhor Steel Tubes IPO Oversubscribed 320 Times!
Investor attention was drawn to the IPO, which had an incredible 320 times subscription rate. HNIs, or high net worth individuals, set the standard by subscribing 770 times the quota. Qualified institutional purchasers subscribed 191 times, while retail investors secured 200 times their allotted portion, demonstrating their tremendous interest as well.
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With a price range of Rs 141–151 per share, the issue, valued at Rs 72.17 crore, was open for subscription on February 13 and concluded on February 15. It was a brand-new share offering. The company raised Rs 22 crore from investors such as Saint Capital Fund, Chhattisgarh Investments Ltd, and Neomile Growth Fund-Series during the one-day anchor book launch on February 12. The company will use the money raised for basic corporate objectives and working capital needs.
Market Watch: Vibhor Steel Tubes Achieves Rs 838.14 Crore Valuation on BSE
Reputably producing premium steel tubes and pipes that are extensively utilized in India’s heavy engineering sectors, Vibhor Steel Tubes Ltd was founded in 2003. The company’s market worth on the BSE was Rs 838.14 crore as of the morning trade. The 30-share BSE Sensex benchmark increased by 88.40 points (0.12 percent) to 72,796.56 during the morning session, while the NSE Nifty saw a slight increase of 15 points to 22,122.10.
