Vibhor Steel Tubes shares soared 193% on their market debut, closing at Rs 442. The IPO was oversubscribed 300 times, driven by institutional investor interest.
New Delhi, Feb 20 (PTI) Vibhor Steel Tubes had an stellar market debut on Tuesday, with its shares ending the day with a huge premium of 193 per cent, against the issue price of Rs 151.
The stock made its debut at Rs 421, reflecting a rally of 178.81 per cent from the issue price on the BSE. Finally, it settled at Rs 442, reflecting a rally of 192.72 per cent.
On the NSE, shares of Vibhor Steel Tubes listed at Rs 425, climbed 181.46 per cent from the issue price and later closed at Rs 446.25 per piece.
In volume terms, 22.22 lakh equity shares were traded on the NSE, while 1.10 lakh shares changed hands on the BSE during the day.
At close, the company's market valuation stood at Rs 838.14 crore on the BSE.
On Tuesday, the 30-share BSE Sensex benchmark surged by 349.24 points or 0.48 per cent to end at 73,057.40, while Nifty of the NSE rose by 74.70 points to close at a new record level of 22,196.95.
Last week, Vibhor Steel Tubes' IPO was subscribed nearly 300 times on the final day, driven by overwhelming participation from institutional investors.
Founded in 2003, Vibhor Steel Tubes Ltd (VSTL) is a manufacturer of high-quality steel tubes and pipes that are used in various heavy engineering industries in India.
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