February 19, 2024
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Vibhor Steel Tubes IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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Table of Contents
- GMP
- Guidance
- Subscription
- Allotment
Post listing Review of Vibhor Steel Tubes IPO?
On 20th February, the scrip is listed at Rs.425, compared to the Issue-price of Rs.151, at a premium of 181.46%. The listing has been beyond the expectations of the grey market players.
What are the promoters of Vibhor Steel Tubes IPO?
MR. VIJAY KAUSHIK, MR. VIBHOR KAUSHIK, MRS. VIJAY LAXMI KAUSHIK AND M/S VIJAY KAUSHIK HUF are the promoters of Vibhor Steel Tubes.
What are the Objects of Vibhor Steel Tubes IPO?
The Issue comprises only of fresh issue of shares.
The net proceeds of the Issue are proposed to be utilised in the following manner:
i. Funding of working capital requirements of the Company; and
ii. General corporate purposes.
Subscription Status of Vibhor Steel Tubes IPO?
On 15 February 2024 5.00 pm (Day 3) (Closed)
Review: subscriptions improved now
QIB: 1017441 Shares 178.43 T
NII(10L+): 508682 Shares 704.42 T
NII (<10L) 254341 Shares 755.16 T
NII (Total) 763023 Shares 721.33 T
RII: 1780386 Shares 188.17 T
Emp: 31595 Shares 201.48 T
Total: 3592445 Shares 298.85 T
Total Bids of Rs.21575.22 Cr
What is the business of Vibhor Steel Tubes?
Vibhor Steel Tubes Limited is manufacturers and exporters of Mild Steel/Carbon Steel ERW Black and
Galvanized Pipes, Hallow Steel Pipe, Cold rolled Steel (CR) Strips/ Coils. It is 2 decades old manufacturer, exporter and supplier of steel pipes and tubes to various heavy engineering industries in India. Steel pipes and tubes can be used for many purposes such as steel pipes for frames and shafts, steel pipes for bicycle frames, steel pipes for furniture, CDW pipes for shockers, steel pipes for various structural purposes, steel pipes for various engineering purposes etc. It has a very wide range of steel pipes and tubes products. The lengths of the steel pipes & tubes in different ranges unless otherwise specified by the customers. It manufactures steel pipes and tubes in various shapes and size such square, round, rectangular and elliptical or any special shape.
It manufactures & supplies the finished goods for “Jindal Pipes Limited” vide the renewed agreement dated April 01, 2023 under the brand name “Jindal Star”
It has an in-house quality team comprising of 627 dedicated personnel working under the overall supervision of its board of directors in different locations. Its quality control team ensures that its raw materials as well as end products are tested on all quality parameters to ensure that it is compliant with the international product standards.
For more information, click www.vstlindia.com
Vibhor Steel Tubes IPO GMP, Particulars & Guidance
| Vibhor Steel Tubes IPO Details | |
| IPO opens on | 13 February 2024 |
| IPO closes on | 15 February 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 4779470 Sh /Rs 72.17 Cr |
| * Fresh Issue | 4779470 Sh /Rs 72.17 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 141-151 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 99 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Vibhor Steel Tubes? | Shares | Rs. in Cr |
| QIB (50 %) | – | ? |
| NII (15 %) | – | ? |
| RII (35 %) | 1672814 | 25.26 |
| Employees | – | – |
| Total Shares | 4779470 | 72.17 |
| Retail portion will be oversubscribed by | 16987 Forms. | |
| How to apply in Vibhor Steel Tubes IPO ? | Amount Rs. | |
| Min Retail Application | 99 Sh | 14949 |
| Max Retail Application | 1287 Sh | 194337 |
| Small HNI (Min) application | 1386 Sh | 209286 |
| Small HNI (Max) application | 6534 Sh | 986634 |
| Big HNI Application | 6633 Sh | 1001583 |
| What is the timetable of Vibhor Steel Tubes IPO? | |
| IPO opens on | 13 February 2024 |
| IPO Closes on | 15 February 2024 |
| IPO Allotment on | 16 February 2024 |
| Unblocking of ASBA | 19 February 2024 |
| Credit of Shares | 19 February 2024 |
| Listing on | 20 February 2024 |
| Registered Office of Vibhor Steel Tubes | |
| Plot No. 2, Industrial Development Colony, Delhi Road, Hisar, Haryana-125005, India. |
|
| Who are the Lead Managers of Vibhor Steel Tubes IPO? KHAMBATTA SECURITIES LIMITED |
|
| Registrar to IPO | |
| KFIN TECHNOLOGIES LIMITED |
| Vibhor Steel Tubes IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 511.51 | 0.69 | 0.49 | 1.14 |
| 2021-22 | 818.49 | 11.33 | 7.99 | 15.74 |
| 2022-23 | 1114.38 | 21.07 | 14.85 | 22.60 |
| Book Value of the Share on 31.03.2023 | Rs. | 65.71 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 151 | ||
| Vibhor Steel Tubes IPO Ratio Analysis |
|
| Price /EPS | 10.17 |
| Price/Book Value Ratio | 2.30 |
| Price/BV after IPO | ? |
How Vibhor Steel Tubes IPO compares with the Peers?
Peer Comparison.
The below Companies are manufacturing the same products as Vibhor is manufacturing, so these Companies are its peer group Companies but not competitors because these Companies are selling their product in open market and Vibhor has only 1 customer i.e. Jindal Pipes Limited & it is supplying all the finished goods/products on behalf of Jindal Pipes Limited
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Vibhor Steel Tubes | 10 | 1114 | ? |
| APL Apollo Tubes | 2 | 16213 | 70.39 |
| Hitech Pipes ltd | 1 | 2388 | 27.66 |
| Goodluck India | 2 | 3087 | 17.82 |
| Rama SteelTubes | 1 | 1337 | 28.93 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Vibhor Steel Tubes IPO Guidance
Vibhor Steel Tubes Limited is manufacturers and exporters of Mild Steel/Carbon Steel ERW Black and
Galvanized Pipes, Hallow Steel Pipe, Cold rolled Steel (CR) Strips/ Coils. It is 2 decades old manufacturer, exporter and supplier of steel pipes and tubes to various heavy engineering industries in India. The company has only one customer and all the products are sold to Jindal Pipes ltd.
Size: The size of this mainboard IPO is just Rs. 72.17 Cr and retail portion is only 25.26 Cr. This is even less than some of the SME IPOs. Because of such small size and hunger of the investors, huge oversubscription in RII and HNI categories expected. It will push up interest costs and accordingly, the premium trades are seen in the grey market.
Guidance: The company manufactures all the products for single customer, Jindal Pipes ltd and it may not have liberty to increase the prices and increase its profits at its own will. So, it may have limited upside potential in the gross-profit-margins and accordingly limited upside in the market-price of the shares, upon listing. Chances of allotment are also low.
Quicklinks
Vibhor Steel Tubes IPO GMP
Vibhor Steel Tubes IPO GMP today details
Vibhor Steel Tubes IPO GMP today, Details, Guidance, Subscription Status, allotment
Vibhor Steel Tubes IPO Anchor Investors details
Will update the details once the anchor portion opens for subscription.
