Unlisted shares of Vibhor Steel Tubes Ltd are trading Rs 110 higher in the grey market, which is a 72.85 per cent listing gain from the public issue
Vibhor Steel Tubes IPO: The initial public offering of Vibhor Steel Tubes Ltd, which will be closed on Thursday, February 15, has received a decent response from investors. Till 10:59 am on the final day of bidding on Thursday, the IPO received 139.53 times subscription, garnering bids for 46,80,48,735 shares as against 33,54,537 shares on offer.
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The Rs 72.17-crore IPO was opened for public subscription on Tuesday, February 13.
The retail category has received 118.72 times subscription and the non-institutional quota got 362.72 times subscription. The QIB category received 9.28times subscription.
The allotment of Vibhor Steel Tubes IPO will take place on February 16, while its listing will take place on both NSE and BSE on February 20, 2024.
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Vibhor Steel Tubes IPO GMP Today
According to market observers, unlisted shares of Vibhor Steel Tubes Ltd are trading Rs 110 higher in the grey market as compared with its issue price. The Rs 110 grey market premium or GMP means the grey market is expecting a 72.85 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Vibhor Steel Tubes IPO Details
Vibhor Steel Tubes IPO is entirely a fresh issue. The price band of the IPO was fixed at Rs 141-Rs 151 per share. The minimum lot size for an application is 99 shares. The minimum amount of investment required by retail investors is Rs 14,949.
The minimum lot size investment for small NII is 14 lots (1,386 shares), amounting to Rs 209,286, and for big NII, it is 67 lots (6,633 shares), amounting to Rs 1,001,583.
Khambatta Securities Limited is the book-running lead manager of the Vibhor Steel Tubes IPO, while Kfin Technologies Limited is the registrar for the issue.
