Vibhor Steel Tubes IPO Witnesses Strong Demand Day 1; Subscription Soars

13 Feb 2024 , 12:04 PM

Vibhor Steel Tubes Limited, a leading manufacturer of pipes and steel tubes, has launched its highly anticipated initial public offering (IPO) today, which will remain open for subscription until February 15. Interested investors can seize this opportunity by subscribing to the IPO here.

In a remarkable turn of events, the IPO witnessed overwhelming demand, with subscription figures soaring within the first two hours of opening. The retail portion of the IPO has been particularly popular, garnering a subscription rate of 11.20 times, while non-institutional investors displayed strong interest with a subscription rate of 8.53 times.

Furthermore, the company’s employees have also shown significant enthusiasm, subscribing to the reserved portion of the IPO at a remarkable rate of 11.95 times.

Vibhor Steel Tubes has set the IPO price band at ₹141 to ₹151 per equity share, aiming to raise a substantial ₹72.17 crore through the issuance of fresh shares. The book build issue is poised for listing on both the BSE and NSE, offering investors diverse opportunities for participation.