Sambhv Steel IPO Oversubscribed 28 Times
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Sambhv Steel Tubes IPO closes with 28.46 times subscription. QIBs portion saw 62.32 times subscription. Listing on BSE and NSE on July 2.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Jun 27 (PTI) The initial public offer of Sambhv Steel Tubes Ltd got subscribed 28.46 times on the closing day of bidding on Friday.
The three-day initial share sale received bids for 140,02,39,022 shares against 4,92,06,100 shares on offer, according to NSE data.
Qualified Institutional Buyers (QIBs) portion received 62.32 times subscription while the category for non-institutional investors fetched 31.82 times subscription. Retail Individual Investors (RIIs) part got subscribed 7.99 times.
Sambhv Steel Tubes has raised Rs 161.25 crore from anchor investors.
The price band for the initial public offer (IPO) is Rs 77-82 per share.
The IPO is a mix of fresh issue of equity shares valued at Rs 440 crore and an offer-for-sale (OFS) of shares worth Rs 100 crore by promoters.
Proceeds from the fresh issue will be utilised for payment of debt and general corporate purposes.
Sambhv Steel is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024.
Nuvama Wealth Management and Motilal Oswal Investment Advisors are the book running lead managers to the issue.
Sambhv Steel Tubes' stock is likely to be listed on the BSE and NSE on July 2.
The three-day initial share sale received bids for 140,02,39,022 shares against 4,92,06,100 shares on offer, according to NSE data.
Qualified Institutional Buyers (QIBs) portion received 62.32 times subscription while the category for non-institutional investors fetched 31.82 times subscription. Retail Individual Investors (RIIs) part got subscribed 7.99 times.
Sambhv Steel Tubes has raised Rs 161.25 crore from anchor investors.
The price band for the initial public offer (IPO) is Rs 77-82 per share.
The IPO is a mix of fresh issue of equity shares valued at Rs 440 crore and an offer-for-sale (OFS) of shares worth Rs 100 crore by promoters.
Proceeds from the fresh issue will be utilised for payment of debt and general corporate purposes.
Sambhv Steel is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024.
Nuvama Wealth Management and Motilal Oswal Investment Advisors are the book running lead managers to the issue.
Sambhv Steel Tubes' stock is likely to be listed on the BSE and NSE on July 2.
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