Niveshaay-Backed Sambhv Steel Tubes Lists on Dalal Street

Sambhv Steel Tubes Ltd. marked a major milestone with its Main Board debut on 2nd July 2025, listing at ₹110. The ₹540 crore IPO saw a stellar response, getting oversubscribed 28.5 times across all investor categories.

Backed by Niveshaay a reputed surat based investment firm known for its early identification of high-potential growth companies. — Sambhv Steel Tubes has rapidly redefined industry benchmarks. From its state-of-the-art, backward-integrated facility in Raipur, strategically located in India’s steel heartland, Sambhv has pioneered ERW pipe manufacturing through the secondary route, delivering exceptional cost efficiency and product quality comparable to primary steel players.

Further setting itself apart, Sambhv’s in-house production of narrow-width coils and its emergence as one of just three players in the stainless-steel segment highlight its technological edge and scalable, efficient operations.

Reflecting on this milestone, Arvind Kothari of Niveshaay shared:

“We firmly believe that a simple and focused business approach holds immense potential for wealth creation — an opportunity often overlooked by the markets. What impressed us from the beginning was the promoters’ unwavering commitment to scaling the business using internal accruals, and their focus on building a reliable brand. Their ambition to double capacity every three years and maintain higher ROCE than industry peers truly set them apart.

At Niveshaay, our private market philosophy goes far beyond capital deployment. We back visionary entrepreneurs who dare to think differently and execute with discipline. We become true partners — offering strategic guidance, sectoral depth, and access to an entrepreneurial network that enables sustainable growth.

Our journey with Sambhv Steel Tubes is a shining example of this approach in action- in 2023, we led a funding round in which the company raised ₹150 crores at a pre-money valuation of ₹750 crores. Similar investment stories include Kimbal Technologies, Sri Chakra Polyplast, and Waaree Energies — each reflecting our commitment to identifying promising founders early and empowering them to build long-term value.

Speaking on this association, Vikas Goyal, MD & CEO of Sambhv Steel Tubes Ltd., said:

“Niveshaay has been more than just an investor — they’ve been a true strategic partner in our growth. Their data-driven insights and on-ground research gave us clarity not just about our business, but the entire industry landscape. From early IPO planning and capital mobilization to stakeholder connections and customer introductions, they’ve supported us at every step. With a long-term mindset and unwavering integrity, they’ve consistently acted like an extension of our team.We deeply value this partnership and look forward to scaling new heights together.”

As we continue to invest in private markets, our focus remains steadfast: to empower exceptional founders, help them build category-defining businesses, and deliver enduring value for all stakeholders.

Sambhv’s successful listing is not just a financial milestone — it is a testament to what becomes possible when bold leadership meets the right capital and long-term support.

Making things ‘Sambhav’ — The Hedgehogs Way at Niveshaay.

Moneycontrol Journalists are not involved in creation of this article.