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Vibhor Steel Tubes IPO subscribed 320 times with bids worth Rs. 16,211 crore

February 15, 2024: The Initial Public Offering (IPO) of Haryana-based Vibhor Steel Pipes Limited gets fabulous response from the investors as it records subscription of over 320 times till the last day of the issue. The offering received over 28 lakh applications and bids worth Rs. 16,211 crore from the investors. The retail portion was oversubscribed 201 times, while the subscription of QIBs, NIIs and Employees portion stood at 191, 772 and 215 times, respectively.

Khambatta Securities Limited is the Book Running Lead Manager to the issue, and KFIN Technologies Limited is the Registrar.

The company successfully raised Rs. 21.51 crore from the anchor book subscription on Monday, February 12, 2024. As many as 14,24,907 equity shares have been reserved for the anchor portion, 7,12,503 equity shares for HNIs, 9,50,025 equity shares for QIBs after the anchor, 29,502 equity shares for employees, and the Retail (RII) portion accounts for 16,62,507 equity shares.

The price band for the issue has been fixed at Rs. 141– Rs. 151 per share. The lot size is 99 equity shares.  The company is planning to raise approximately Rs. 72.17crore (at upper band) from the offering and aims to be listed with NSE and BSE. The issue opened today, will close on Thursday, 15th February 2024.

Vibhor Steel Pipes Limited intends to utilise the proceeds from the IPO for working capital requirements and general corporate purposes.

For more information, please visit: https:https://www.vstlindia.com/

Disclaimer: VIBHOR STEEL TUBES LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (“Offer”) and has filed a Red Herring Prospectus (“RHP”) with the Registrar of Companies, NCT of Delhi & Haryana(“RoC”). The RHP is available on the website of the SEBI at www.sebi.gov.in, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com and the website of the book running lead manager to the Offer, Khambatta Securities Limited at www.khambattasecurities.com. All potential Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Prospectus which may be filed with the RoC in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with the SEBI for making any investment decision instead shall rely on RHP. Potential investor should read the Red Herring Prospectus carefully, including the Risk Factors on page 28 of the Red Herring Prospectus before making any investment decision. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.

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