Sambhv Steel Tubes: Sambhv Steel Tubes, a steel pipe manufacturer from Chhattisgarh, has created a stir in the market with its Initial Public Offering (IPO). The issue has received an overwhelming response from investors, and the allotment process has now been completed. The demand for the company's shares in the grey market is also increasing rapidly, clearly indicating the enthusiasm of investors regarding this IPO.
Subscription Reaches New Heights
The IPO of Sambhv Steel Tubes opened on June 25th and closed on June 27th. The subscription figures show that the issue was subscribed 28.46 times overall. The most interesting aspect was that Qualified Institutional Buyers (QIBs) showed the most interest in this issue, with their quota being booked 62.32 times.
Following this, the Non-Institutional Investors (NIIs) portion was booked 31.82 times, and the retail investors' quota was booked 7.99 times. Also, the reserved portion for the company's employees received a subscription of 5.34 times. This demonstrates a b belief in the company's shares in the market.
IPO Allotment Process Completed
The allotment of the Sambhv Steel Tubes IPO was finalized on June 30th. Investors can now check their allotment status on the official website of BSE or the registrar, Mufg Intime India's website.
To check on BSE, you first need to go to the link bseindia.com/investors/appli_check.aspx. There, select 'Equity' in 'Issue Type', then select the name of Sambhv Steel Tubes in 'Issue Name'. After that, you can enter your application number or PAN number and click the 'Search' button to view the status.
The status can also be checked by following the same procedure on the registrar's website, https://in.mpms.mufg.com/Initial_Offer/public-issues.html.
GMP Makes a Splash in the Grey Market
Sambhv Steel's unlisted shares are currently trading in the grey market at ₹96 per share, which is ₹14 more than its upper band issue price of ₹82. That is, the Grey Market Premium (GMP) is almost 17 percent.
If this trend continues in the GMP at the time of listing, investors could potentially benefit by ₹14 per share. However, changes are also possible, considering the fluctuations in the market, but the current indications are positive.
Details of Sambhv Steel Tubes IPO
The company is raising a total of ₹540 crore through this issue. This includes a fresh issue of ₹440 crore and an Offer for Sale (OFS) of ₹100 crore. The price band has been set at ₹77 to ₹82 per share.
For investing in the IPO, one lot comprised 182 shares. That is, the minimum investment was around ₹14,914. Even before the issue opened, the company had raised around ₹161.25 crore from 19 anchor investors, which further strengthened investor confidence.
Lead Managers and Company Profile
The book-running lead managers for this issue are Nuama Wealth Management and Motilal Oswal Investment Advisors. Sambhv Steel Tubes is headquartered in Chhattisgarh, and the company's main focus is on the steel tube and pipe segment. Its products are widely used in manufacturing, infrastructure, and the automobile sector.
The company is continuously working on its production capacity and technological upgrades, which seem to indicate b prospects for future growth. Sambhv's focus is on quality, scalability, and customer satisfaction.
Preparation for Listing in the Stock Market
Now that the allotment process has been completed, the next step is the wait for the listing of Sambhv Steel Tubes shares in the stock market. It is expected that the company may be listed on both BSE and NSE platforms in the coming days. Investors' interest and the market trend will play a significant role based on the GMP at the time of listing.
An Atmosphere of Hope Prevails Among Investors
The b subscription of the IPO and the good GMP in the grey market make it clear that there is a b sentiment in the market for Sambhv Steel Tubes shares. Now, all eyes are on the listing day, where investors are expected to make a profit.
Looking at the company's performance and market trends, this issue of Sambhv Steel Tubes has become one of the few IPOs that has won on every front, from subscription to GMP.
