Sambhv Steel Tubes IPO Day 3 Live: Issue subscribed 1.76x so far. Check GMP, key dates, other details. Apply or not?

Sambhv Steel Tubes IPO Day 3 Live: Sambhv Steel Tubes’ initial public offering, which is set to conclude today, Friday, June 27, has seen respectable subscription levels, primarily driven by Non-Institutional Investors (NIIs) and followed by retail investors. 

Sambhv Steel Tubes IPO was available for public subscription on Wednesday, June 25. Sambhv Steel Tubes IPO price band has been set between ₹77 and ₹82 per share, with a face value of ₹10. The company has indicated that 50% of the total offering is allocated for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.

The basis of share allotment for the Sambhv Steel Tubes IPO is expected to be formalized on Monday, June 30. Refunds are scheduled to begin on Tuesday, July 1, and shares will be credited to the demat accounts of those who are successful in securing allotments on the same day as the refunds. The shares of Sambhv Steel Tubes are likely to debut on the BSE and NSE on Wednesday, July 2.

As of March 31, 2024, Sambhv Steel is recognized as one of the top manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow sections) in India based on installed capacity.

 A report from Crisil suggests that the demand for domestic steel pipes and tubes is forecasted to grow at a compound annual growth rate (CAGR) of 5-6%, reaching an estimated 12.50-13.50 million tonnes per annum (MTPA) in FY25, an increase from 8.8 MTPA recorded in FY19.

Sambhv Steel Tubes IPO Day 3 Live: Subscription Status 

Sambhv Steel Tubes IPO subscription status is 1.76 on day 2, so far. The retail portion was subscribed 1.84 times, and NII portion has been booked 3.12 times, Qualified Institutional Buyers (QIBs) portion has received 61% bids. Employee Reserved portion has been booked 1.52 times.

The company has received bids for 8,65,22,618 shares against 4,92,06,100 shares on offer, at 17:00 IST, according to data on BSE.