Vibhor Steel Tubes IPO priced at ₹141-151 per share; Open on February 13

7 Feb 2024 , 01:18 PM

Vibhor Steel Tubes Ltd (VSTL), a company situated in Haryana, has established a price range of ₹141 to ₹151 per share for its first public offering (IPO). The IPO will go live on February 13 and end on February 15.

The only book running lead manager for the offer is Khambatta Securities Limited, and the offer’s registrar is KFIN Technologies Limited.

According to the corporation, the issue’s proceeds will be applied to general business needs and working capital requirements.

With a total capacity of 2,21,000 MTPA, Vibhor Tubes produces steel products at its operations in Maharashtra, Telangana, and Haryana, including Electric Resistance Welded Pipes, Hot-dipped Galvanised Pipes, Hollow Section Pipes, Primer Painted Pipes, SS Pipes, and Crash Barriers.

The company is now in the process of establishing a 1,20,000 MTPA manufacturing facility in Orissa. Additionally, in April 2023, VSTL and Jindal Pipes signed a contract for the production and delivery of completed items valued at one million MTPA.

For the most recent fiscal year, Vibhor Steel has recorded consistent growth. As of March 31, 2023, net profit increased from ₹11.33 crore in the year ended in March of FY22 to ₹21.06 crore. Over the same period, operating revenue increased from ₹818 crore to ₹1,113.12 crore.The business provides its goods to businesses in Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka, and Tamil Nadu that serve the western and southern markets.

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