Sambhv steel tubes IPO: The IPO subscription of possible steel tubes closed on 27 June. Opened on 25 June, this IPO has received tremendous response from investors. This IPO has received a subscription of more than 30 times on the last day of bidding. Bids were received for 1,40,13,19,920 shares against 6,58,69,293 shares on the offer. The share of retail investors was 8.56 times, the share of non-institutional investors (NII) was 33.88 times and QIBS is the highest subscribed to 66.36 times. The company is planning to raise Rs 540 crore through IPO.
On the first day, this IPO got 0.41 times and on the second day 1.27 times bids. New shares of Rs 440 crore have been issued in this IPO and shares worth Rs 100 crore have been sold by the company’s promoter and promoter group shareholders. The possible steel tubes had fixed the price band of their IPO to Rs 77 to Rs 82 per share. The allotment of the IPO will be finalized on Monday, June 30. The company shares will be listed on BSE and NSE on 2 July.
What is the opinion of experts?
Most brokerage firms have advised this IPO to ‘subscribe’. He has advised investors to invest for long periods of long -term backward integration of steel, increase in new capacity and strong product portfolio. He said that it makes a fascinating investment for a long period due to good development prospects and loss of debt after IPO.
Anand Rathi Research, Bajaj Broking and SBI Securities advised the possible steel tubes IPO to ‘subscribe for long periods’.
Sambhav Steel Tubes IPO’s latest GMP
According to IPO market experts, the possible steel tubes IPO’s Gray Market Premium (GMP) is currently 14.63%. That is, investors will get to see profits on its listing. However, the listing of this IPO is to be held on June 2, till then it will be a matter to be seen.