 "IPO")
The initial public offer of steel pipes manufacturer Vibhor Steel Tubes Ltd was subscribed by a whopping 101.30 times on the second day of bidding on Wednesday.
The IPO received bids for 36,39,20,733 shares against 35,92,445 shares on offer, garnering a 101.30 times subscription, as per NSE data.
The portion for non-institutional investors subscribed 252.07 times, while the quota for retail individual investors (RIIs) received 90.11 times subscription. The category for qualified institutional buyers (QIBs) subscribed 8.52 times.
On Monday, Vibhor Steel Tubes collected nearly Rs 22 crore from anchor investors.
The price band has been fixed at Rs 141-151 per share. The IPO will close on Thursday, February 15.
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The Haryana-based Vibhor Steel Tubes's initial public offering (IPO) comprises a fresh issue of equity shares with a face value of Rs 10 each, aggregating to an issue size of up to Rs 72.17 crore through the book-building route.
Proceeds from the issue will be utilised for working capital requirements and general corporate purposes.
Founded in 2003, Vibhor Steel Tubes is a manufacturer of high-quality steel tubes and pipes that are used in various heavy engineering industries in India.
Khambatta Securities is the sole book-running lead manager, and Kfin Technologies is the registrar to the IPO.
The company's shares will be listed on the National Stock Exchange (NSE) and BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
