Vibhor Steel Tubes IPO Allotment Status Released: Check GMP and How to Verify Allotment

The share allotment status for the Vibhor Steel Tubes IPO is expected to be determined on Friday, February 16th. Closing with remarkable investor demand, the IPO witnessed subscriptions nearly 300 times its offering size on the final day, Thursday.

The company, which specialises in manufacturing steel pipes and tube products, is set to list its shares on the stock exchanges on February 20th.

The Rs 72.2-crore IPO, which was available for subscription by retail investors from February 13th to February 15th, garnered immense interest from the public. On the third and final day, the subscription rate surged to 299 times the offering size. Qualified institutional buyers (QIBs) subscribed 178.73 times, while the non-institutional investors (NIIs) category experienced an overwhelming subscription of 721.34 times. Additionally, retail investors subscribed 188.17 times, reflecting strong confidence in the offering.

Vibhor Steel GMP IPO Today

Today's Grey Market Premium (GMP) for the Vibhor Steel Tubes IPO is reported to be ₹132, reflecting an increase of ₹8 from Friday's GMP of ₹124, according to stock market observers. The surge is attributed to robust interest from primary market investors and favourable sentiments on Dalal Street.

Subscribers can track the allotment status of the Vibhor Steel Tubes IPO on the BSE website and the registrar's official website, with Link Intime India Private Ltd serving as the registrar for the IPO.

To check the allotment status of the Vibhor Steel Tubes IPO, investors who have placed bids can follow these steps on the BSE website.

Visit website of BSE at https://www.bseindia.com/investors/appli_check.aspx

· Click on the equity section and select Vibhor Steel Tubes from the drop-down box for issue name.
· Either enter the Application Number exactly or the PAN (10-digit alphanumeric) number.
· Click on the Captcha to verify
· Click on the submit button.

After finalising the basis of allotment on February 16th, successful bidders will receive share allocations, while refunds will be initiated for those not allotted shares. Shares will be credited to successful bidders' demat accounts by February 19th.

The company's initial share sale amounted to Rs 72.17 crore, entirely comprising fresh issue shares. The proceeds will be directed towards fulfilling the company's working capital needs and supporting general corporate objectives.

The price band for the Vibhor Steel Tubes IPO was set at Rs 141 to Rs 151 per share for bidding. Investors were given the choice to bid for a minimum lot size of 99 shares and in multiples thereafter.

Vibhor Steel Tubes demonstrated consistent performance in the last fiscal year, with net profit increasing from Rs 11.33 crore in the year ending March FY22 to Rs 21.06 crore as of March 31, 2023. Moreover, the company's revenue from operations surged to Rs 1,113 crore in FY23 from Rs 818 crore in the preceding fiscal year.