Sambhv Steel Tubes shares make stellar debut, lists at 34% premium over issue price
Sambhv Steel Tubes share price makes a strong debut on Indian stock market by listing at 34 per cent premium over the IPO price. Sambhv Steel Tubes shares was listed at ₹110 on the NSE and ₹110.10 on the BSE, compared to its issue price of ₹82.
The stock debuted stronger than anticipated, exceeding expectations indicated by the grey market premium, which had pointed to a 17 per cent gain at listing.
Sambhv Steel Tubes IPO details
The Sambhv Steel Tubes IPO was subscribed 28.46 times on the third day of bidding, according to BSE data. The retail investors’ portion was subscribed 7.99 times, while the Non-Institutional Investors (NII) category saw a subscription of 31.82 times. The Qualified Institutional Buyers (QIBs) segment received bids 62.32 times the allotted quota. The employee quota was also subscribed 7.99 times.
Sambhv Steel Tubes IPO date of subscription was scheduled from Wednesday, June 25, to Friday, June 27.
The allotment of Sambhv Steel Tubes IPO was finalised on June 30. For investors who have been allotted shares, the shares will be credited to their demat accounts on Tuesday, July 1.
Sambhv Steel Tubes IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee reservation portion has been allocated equity shares aggregating up to ₹25 million.
The public offering includes a fresh issue of equity shares valued at ₹440 crore, in addition to a share sale (OFS) from the promoters totaling ₹100 crore. Nuvama Wealth Management Ltd and Motilal Oswal Investment Advisors Ltd act as the primary managers for this offering.
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