Vibhor Steel Tubes Limited opened the initial public offering (IPO) for subscription on February 13, 2024. The company will close the issue on February 15, 2024. The steel pipe maker has set the IPO price band for each equity share at Rs 141 to Rs 151. The company intends to raise Rs 72.17 crore through the issuance of fresh shares.
About the company
Vibhor Steel Tubes Limited is the leading manufacturer of high-quality steel products in India, to make a mark on the global scale. It deals with high-end mild steel tubes and pipes, ranging from galvanized pipes to welded black tubes/pipes which find application in the domestic, agriculture, and industrial sectors, etc. The manufacturing facility is located at Raigarh in the state of Maharashtra.
The steel pipe maker has fixed the IPO price band for each equity share between Rs 141 to Rs 151.
The minimum lot size for the IPO is 99 shares, necessitating a minimum investment of Rs 14,949 for retail investors. NII investors must make a minimum investment of 14 lots (1,386 shares), totaling Rs 2,09,286. Additionally, for QIB investors, the minimum investment stands at 67 lots (6,633 shares), amounting to Rs 10,01,583.
The company will utilize the funds generated from the issue to meet working capital requirements and fulfill general corporate purposes.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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