Vibhor Steel Tubes raises ₹21 crore from anchor investors ahead of IPO
₹21.5 crore from anchor investors a day ahead of its initial public offering (IPO). The anchor book round saw participation of only three investors - Saint Capital Fund, Chhatisgarh Investments Limited and Neomile Growth Fund - Series I. Also read: Vibhor Steel Tubes IPO: Check issue dates, price band, GMP, among 10 key things to know The company allocated 14,24,907 equity shares at a price of ₹151 per share to its anchor investors.
"The IPO Committee of the Company, vide their resolution dated February 12, 2024 in consultation with the Book Running Lead Manager to the Offer, has finalized allocation of 14,24,907 Equity Shares, to Anchor Investors at Anchor Investor allocation price of Rs. 151.00 per Equity Share (including share premium of Rs. 141.00 per Equity Share)," said Vibhor Steel Tubes in an exchange filing.
It further added, “Out of the total allocation of 14,24,907 equity shares to the Anchor Investors, Nil equity shares (i.e. nil% of the total allocation to Anchor Investors) were allocated to domestic mutual funds through a total of nil schemes." Vibhor Steel Tubes IPO will open for subscription on February 13, 2024 and close on February 15, 2024. It is a book-built issue worth ₹72.17 crore and is entirely a fresh issue.
The IPO price band has been fixed at ₹141 to ₹151 per share. The minimum lot size for the IPO application is 99 shares. The minimum investment amount required by retail investors is ₹14,949.
Read more on livemint.com
