Sambhv Steel Tubes initial public offer (IPO) opened for public subscription in the primary market on Wednesday after mobilising Rs 161.25 crore from anchor investors, a day ahead of the launch.
Retail individual investors (RIIs) category fetched 57 percent subscription, while the quota for non-institutional investors (NIIs) subscribed 68 percent. The initial public offer (IPO) received bids for 2.96 crore shares against 4.92 crore shares on offer, as per data available with the NSE.
The Rs 540-crore Sambhv Steel Tubes IPO opened for public subscription on June 25 and will conclude on June 27. The price band has been set at Rs 77-82 per share for its issue. The IPO is a mix of fresh issue of equity shares valued at Rs 440 crore and an offer for sale (OFS) of shares worth Rs 100 crore by promoters.
Sambhv Steel Tubes IPO GMP
According to platforms tracking the grey market activities, the shares of the company are commanding a GMP of 12 percent. Investorgain quoted a GMP of Rs 10 for the shares of the company, indicating a listing gain of 12.2 percent.
Shares of the company will be listed on the BSE and NSE on July 2, while the allotment is expected on June 30.
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