Vibhor Steel Tubes stock lists with 179% premium over IPO price
premium of 178.8% on the exchanges on Tuesday. The stock debuted at Rs 421 as against an issue price of Rs 151 on BSE. Meanwhile, the stock debuted at Rs 425, up 181.5% on NSE.
Ahead of the debut, the company's shares had a GMP of Rs 140 in the unlisted market.
Analysts attributed the solid listing to a diverse product portfolio of the company catering to various sectors and a well-established distribution network across India, which ensures product accessibility.
Additionally, the company also boasts of an impressive track record of financial performance, further cementing investor confidence.
Incorporated in 2003, Vibhor Steel was converted int o a public ltd company in 2023. The company specializes in the manufacturing of mild steel/carbon steel ERW Black and Galvanized Pipes, hollow steel pipe, cold rolled steel (CR) strips.
It is a two decades old manufacturer, exporter and supplier of steel pipes and tubes to various heavy engineering industries in India.
Steel pipes and tubes can be used for many purposes such as steel pipes for frames and shafts, steel pipes for bicycle frames, steel pipes for furniture, CDW pipes for shockers, steel pipes for various structural purposes, steel pipes for various engineering purposes etc.
The company has a long term business arrangement with Jindal Pipes since 2003 and derives major orders from the company. Under the agreement Jindal will provide orders with a minimum quantity of 1,00,000 MT per annum.
Net proceeds from the public offer are proposed to be utilised for
