Nagaland News Watch

Day 2 of the Vibhor Steel Tubes IPO: Verify Subscription Status and GMP Today

<p><strong>Vibhor Steel Tubes IPO:</strong> Investors are responding well to Vibhor Steel Tubes Ltd.’s initial public offering, which was made available for subscription on Tuesday, February 13. On Wednesday, the IPO got 47.22 times as many subscriptions till 11:25 am on the second day of bidding. Bids were received for 15,83,91,387 shares, compared to the 33,54,537 shares that were offered.</p>
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<p>Closed Thursday, February 15, was the Rs 72.17-crore initial public offering.</p>
<p>The non-institutional quota garnered 88.44 subscriptions, while the retail sector obtained 54.28 subscriptions. 3.86 subscriptions were obtained by the QIB category.</p>
<p>Vibhor Steel Tubes’ initial public offering (IPO) will be allocated on February 16 and its listing on the NSE and BSE on February 20, 2024.</p>
<p><strong>Presently, Vibhor Steel Tubes IPO GMP</strong></p>
<p>Market watchers report that unlisted shares of Vibhor Steel Tubes Ltd. are selling on the grey market for Rs 120 more than the company’s issue price. The grey market anticipates a listing gain of 79.47 percent from the public offering, as indicated by the Rs 120 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.</p>
<p>The willingness of investors to pay above the issue price is shown by the “grey market premium.”</p>
<p><strong>Details about the Vibhor Steel Tubes IPO</strong></p>
<p>The IPO for Vibhor Steel Tubes is a brand-new problem. The IPO’s price range was set at Rs 141–Rs 151 per share. An application must have a minimum lot size of 99 shares. Retail investors are needed to invest a minimum of Rs 14,949.</p>
<p>Small NII minimum lot size investment is 14 lots (1,386 shares), or Rs 209,286; large NII minimum lot size investment is 67 lots (6,633 shares), or Rs 1,001,583.</p>
<p>The registrant of the Vibhor Steel Tubes IPO is Kfin Technologies Limited, while the book running lead manager is Khambatta Securities Limited.</p>